Spain's Energy Minister, Teresa Ribera, issued a warning as she opened a gathering of energy ministers and climate leaders in Madrid on Monday, just weeks before the 28th UN Climate Change Conference, known as COP28, which is scheduled to take place in Dubai from November 30 to December 12.

Ribera stressed the immense challenges that lie ahead at COP28, emphasizing the need for a global response to address the urgent issue of climate change. She called for increased "multilateralism" in tackling the current challenges, highlighting that a global problem necessitates international cooperation.

Spain, currently holding the rotating presidency of the EU Council, is actively pushing for the formation of an international coalition to limit global warming to 1.5 degrees Celsius above pre-industrial levels. This initiative underscores the European Union's commitment to combatting climate change through collaborative efforts.

In the lead-up to COP28, there are several key targets and priorities that have been identified by global leaders and climate organizations. Fatih Birol, the chief of the International Energy Agency, emphasized the importance of tripling global capital expenditure on renewables, doubling energy efficiency improvements, and securing an agreement to support clean energy financing in emerging countries. These measures are seen as crucial to controlling greenhouse gas emissions and mitigating the impacts of climate change.

Despite these efforts, it's anticipated that global consumption of coal, oil, and natural gas may continue to rise until a peak is reached before 2030, after which a rapid decline is expected. This transition away from fossil fuels remains a critical goal for the international community.

At COP27, held in Egypt the previous year, a historic fund was established to assist vulnerable countries in coping with the consequences of climate disasters. However, negotiations failed to result in an agreement to phase out fossil fuels, which are the primary source of greenhouse gas emissions and global warming.

In response, the European Union is currently working on a plan, set to be unveiled this month, outlining a clear strategy for transitioning away from fossil fuels. This timeline is intended to increase pressure on countries that have been hesitant to commit to a phase-out of fossil fuels. Measures already agreed upon by the EU and others include ending the sale of new petrol cars by specific dates.

As COP28 approaches, the international community faces a critical juncture in addressing climate change, with expectations high for meaningful progress in curbing emissions and charting a sustainable path forward. The conference in Dubai will bring together leaders from around the world to address this global crisis and seek collective solutions for a more sustainable future.