COP26 Key to Transition Momentum

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
Antony Blinken
Christophe Ena/AP

While many are looking for COP26 to send a clear signal that the world is moving urgently and collectively to tackle the climate crisis, the outcome of the UN climate conference in Glasgow will probably be less clear cut — as are its likely implications for the oil industry. The UN climate talks, which kick off Oct. 31, will see broader consensus than ever before on the need for urgent climate action, even if divisions still persist on the pace of change and who foots the bill. In formal “conference of the parties” business, there are some critical decisions to be taken on important details like accounting and carbon trading. Glasgow is also the first test of the five-year ratchet and review mechanism agreed in Paris, with all countries asked to submit ambitious new nationally determined contributions (NDCs) and long-term strategies to get to net zero by midcentury. COP26 is about more than just the official negotiations though; what happens alongside is important too in building and sustaining momentum for subnational actors, businesses and civil society groups.

Corporate Strategy , Low-Carbon Policy, CO2 Emissions
Wanda Ad #2 (article footer)
Mounting risks threaten a predicted loosening of LNG markets by 2026, as the industry copes with cost inflation, labor shortages, construction delays and other challenges.
Thu, Sep 28, 2023
Developers, financers and other stakeholders are stressing the importance of long-awaited guidance from the US Treasury on landmark hydrogen tax incentives.
Tue, Oct 3, 2023
Escalating prices on construction, labor and capital are eating into North American LNG economics, causing low-cost project economics to deteriorate.
Tue, Oct 3, 2023