The 2022 State of Climate Action report emphasises the importance of COP28 in addressing climate change. Wood Mackenzie’s outlook indicates a concerning 2.5°C warming trajectory by 2100, and the first global stocktake shows no signatory meeting emission targets. COP28 aims to address the financing gap for mitigation in developing nations, refine carbon credit market rules, and encourage oil and gas companies to reduce methane emissions.
Wood Mackenzie’s report explains the requirements for COP28
According to Wood Mackenzie, success of COP28 hinges on recapturing collaborative spirit seen in the Paris Agreement. Illustration from Woodmac.
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