Why in News?

A growing coalition of governments and civil society organisations are advocating for a Fossil Fuel Non-Proliferation Treaty (FF-NPT), aimed at phasing out fossil fuels and promoting a just transition to renewable energy.

What’s in Today’s Article?

• What is the Fossil Fuel Non-Proliferation Treaty (FF-NPT)?
• Need and Significance of the FF-NPT
• Understanding the FF-NPT Framework and Challenges
• India's Position on the FF-NPT and Way Ahead for the FF-NPT
• Conclusion

What is the Fossil Fuel Non-Proliferation Treaty (FF-NPT)?

• About: Conceptualised in 2016 and officially launched in 2019, the FF-NPT proposes to make it legally binding on nations to end fossil fuel extraction, wind down existing production, and manage a just transition to renewable energy.
• Objective: Inspired by international treaties regulating nuclear weapons, this initiative seeks to address the escalating climate crisis by curbing fossil fuel production and ensuring equitable global energy access.
• Origins and evolution: Conceptualised around the time the Paris Agreement was signed, the FF-NPT has gained endorsements from notable entities, including former UN Secretary-General Ban Ki-Moon, indigenous communities, and small island states.
• Recent developments:
  • At COP29 to the UNFCCC in Baku (Azerbaijan), 10 more countries joined discussions on FF-NPT, though their identities remain undisclosed.
  • The treaty has been endorsed by 13 Small Island Developing States in the Pacific, such as Vanuatu and Tuvalu, and major coal-producing nations like Colombia.
• Financial institutions' support: A collective endorsement by 25 members of the Global Alliance for Banking on Values marks the initiative's first major backing from the financial sector.

Need and Significance of the FF-NPT:

• Need:
  • The proponents of FF-NPT argue that the Paris Agreement, despite its significance, fails to directly address fossil fuel production.
  • Tzeporah Berman, chair of the FF-NPT initiative, highlighted the dire state of global emissions at COP29:
    • Fossil fuel emissions in 2024 are projected to be 8% higher than in 2015 - the year the Paris Agreement was signed.
    • 2024 is likely to be the hottest year on record, with fossil fuel production incompatible with limiting global warming to 1.5°C.
    • Current policies may lead to 3°C of warming, risking catastrophic consequences for humanity.
  • As fossil fuel emissions continue to rise, global temperatures are on track to exceed safe limits, threatening the planet's future.
• Significance: The proposed treaty will support the work of the Paris Agreement, whether through the implementation of -
  • The New Collective Quantified Goal, which aims to establish a new financial target to assist developing countries in their climate actions post-2025, or
  • Through Nationally Determined Contributions (the climate action plans submitted by countries) and Just Transition Work Programmes.

Understanding the FF-NPT Framework and Challenges:

• Framework: The FF-NPT rests on 3 core pillars:
  • Non-proliferation: Halting the expansion of coal, oil, and gas production through international cooperation.
  • Fair phase-out: Equitably reducing existing fossil fuel production, with wealthier, historically high-emission nations transitioning first.
  • Just transition: Accelerating renewable energy adoption and diversifying economies to ensure no community, worker, or nation is left behind.
• Challenges:
  • Since its official launch in 2019, the treaty has faced significant financial hurdles, particularly in aiding climate-vulnerable nations to transition away from fossil fuels.
  • Without substantial funding, developing nations cannot transition to renewables or mitigate climate change impacts.

India's Position on the FF-NPT and Way Ahead for the FF-NPT:

• India's position: While India has not been extensively engaged, the FF-NPT initiative recognises its significance:
  • As a major fossil fuel consumer, India’s emissions are projected to rise by 4.6% in 2024, according to the Global Carbon Project.
  • Advocates believe India could benefit from the treaty, ensuring justice and equity in the global energy transition.
• Way ahead: The treaty must align with the Paris Agreement's goals, supporting financial mechanisms like the New Collective Quantified Goal.

 Conclusion:

• The FF-NPT offers a bold vision for tackling the climate crisis by regulating fossil fuel production akin to nuclear disarmament.
• With increasing support from governments, financial institutions, and vulnerable nations, the initiative underscores the urgent need for global cooperation and equitable solutions.
• However, financial and political challenges must be overcome to turn this vision into a legally binding reality.