The “UAE Consensus” that emerged at COP28 included language around "Transitioning Away" from fossil fuels for the first time. What will be the realistic impact of this language on future climate policy? Progress was also made on methane abatement and pledges around accelerating renewable energy and nuclear development. However, progress on voluntary carbon markets and financing fell short of expectations. How has COP28 impacted the future trajectory of global climate policy and what challenges remain to be resolved?
Long-awaited climate risk reporting rules from the US Securities and Exchange Commission issued in the days before CERAWeek arrived against the background of high expectations mixed with widespread consternation about the details of the rule. The world’s largest and most sophisticated capital market will for the first time now obligate reporting on material climate risks from large publicly-listed corporations, but the rules also shied away from creating a new reporting process with higher compliance hurdles but arguably greater climate impact. As industry, investors, capital allocators and the global financial and regulatory community absorb the details of the new SEC climate risk rules, S&P Global has gathered a cross-section of experts to discuss initial reactions and map out the diverse pathways for action by affected firms.
Climate change has become a top-tier agenda item for governments around the world and at international forums like the UN and G20. What are the different approaches that governments are taking at home to tackle climate change? How is climate ambition reshaping the global energy system, political alliances and trade? Can international initiatives still rally a consensus or must new strategies emerge to address the combined challenges of energy security, transition and affordability?