At the COP28 climate summit in Dubai in 2023, governments agreed in the Global Stocktake to “transition away” from fossil fuels in energy systems, “in a just, orderly and equitable manner”. As attention turns to implementing that commitment, an important question is the size of the price-tag.  

In this policy brief, we outline the expenditures incurred in a fossil fuel phaseout, aiming to provide practical input to structuring the way policymakers approach funding a fossil fuel transition.