Although the global clean energy transition is an irreversible trend, its benefits are not equally shared. It is providing clear benefits for energy security, economic resilience, and new sources of growth, while reducing exposure to geopolitical volatility, fossil fuel price shocks, and climate impacts. Yet countries whose fiscal and political systems depend on fossil fuel revenues face structural challenges in capturing these benefits. To secure these gains across all countries, the transition must be orderly and equitable. Without deliberate planning and cooperation, countries risk increased economic volatility, fiscal instability, and disruption. The transition away from fossil fuels (TAFF) is a macro fiscal and whole-of-economy development challenge, with key barriers including demand uncertainty, cost of capital and governance challenges. Different producer economies have different starting points and priorities.
Increased attention therefore needs to be paid to assessing and managing the fiscal and economic risks faced by producer countries during their transition, and identifying pathways towards delivering tailored support to countries for their national transition planning.
This Wilton Park dialogue on ‘Working together on transitioning away from fossil fuels’ (17 – 19 June 2026) was designed to deepen cooperation on implementation of TAFF, in particular by convening support for Global South fossil fuel producer countries to accelerate their national TAFF planning and building a shared understanding of current challenges and priorities.
The dialogue objectives were to:
- Advance Brazil’s TAFF Roadmap by feeding into recommendations, building momentum in the lead up to COP31;
- Strengthen understanding of country-specific structural challenges and priorities in TAFF;
- Identify key options for international partners to support Global South fossil fuel producers to address persistent barriers to TAFF; and
- Identify pathways towards delivering tailored support to the countries in attendance for their national TAFF planning.
The dialogue occurred in the context of the Brazil COP30 Presidency’s TAFF roadmap, as well as the First International Conference on TAFF held in Santa Marta in April 2026. It also occurred in the context of the war in Iran, which showed that fossil fuels are a source of energy instability, rather than stability. TAFF is an imperative not only for climate reasons, but for energy security and sovereignty. Both producing and consuming countries are pushing for diversification, and for accelerated electrification.
The main takeaways and discussion points are detailed under each theme below:
- Theme 1: Country-specific challenges and priorities
- Theme 2: International support for TAFF
- Theme 3: The future of international cooperation on TAFF