Regulating fossil fuel, like nuclear weapon

News: At the ongoing COP29, demands are being made for a fossil fuel non-proliferation treaty (FF-NPT) to curb global greenhouse gas emissions.

1. The Fossil Fuel Non-Proliferation Treaty (FF-NPT) aims to limit the extraction, production and consumption of fossil fuels to combat climate change.

2. It was first conceptualised in 2019 and officially launched in 2019.

3. As of now, the treaty has been endorsed by Colombia and 13 Pacific small island developing states like Tuvalu, Fiji, Soloman Islands.

4. The treaty is based on 3 Pillars: A) Non-Proliferation B) Fair Phase-Out C) Just Transition.

5. It stresses limiting fossil fuel production, promoting international collaboration to manage the global transition from fossil fuels, investing in renewable energy sources.

6. However, the treaty is likely to face opposition from fossil fuel dependent countries, cause economic disruption as the global economy heavily relies on fossil fuels, and lacks a strong enforcement and compliance mechanism.