Fossil fuels made the cut
Transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner
Transitioning away doesn't equal phasing out
Growing global consensus on the urgency of the climate crisis
Focus on energy systems not global economy
No timeline for transition
Hit or Miss?
Climate Impact
Hit
Medium
High
Climate Impact
Hit
Hit or Miss?
Cost of renewables will continue to decrease
Tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030
Renewables phase-up
Low
Climate Impact
N/A
Hit or Miss?
Significant amount of flexibility around transitional fuels definition
Indication that natural gas could play a role in the transition to net zero
Recognizes that transitional fuels can play a role in facilitating the energy transition while ensuring energy security
Room for transitional fuels
High
Climate Impact
Hit or Miss?
Notable inclusion linked to the transition away from fossil fuels
More specifics around the capture rates will be required
Accelerating [..] removal technologies such as carbon capture and utilization and storage, particularly in hard-to-abate sectors
Removal technologies are part of the solution
N/A
High
Climate Impact
Hit
Hit or Miss?
Over U$792M already pledged but still a fraction of what is needed
Operationalization of loss and damage fund
Loss and Damage
Low
Climate Impact
Miss
Hit or Miss?
At best, work on Article 6 markets has been deferred to a future COP
In the meantime, carbon offset markets are destined to continue to grow through bilateral agreements and further refinement and innovation in the voluntary markets
Parties failed to find an agreement. Politicization of Article 6.4 and delays in its operationalization
Carbon Markets
Click the tabs below to read additional analysis on each topic
Cost of renewables will continue to decrease
Tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030
Renewables phase-up
High
Climate Impact
Hit
Hit or Miss?
Low
Climate Impact
N/A
Hit or Miss?
Significant amount of flexibility around transitional fuels definition
Indication that natural gas could play a role in the transition to net zero
Recognizes that transitional fuels can play a role in facilitating the energy transition while ensuring energy security
Room for transitional fuels
High
Climate Impact
N/A
Hit or Miss?
Notable inclusion linked to the transition away from fossil fuels
More specifics around the capture rates will be required
Accelerating [..] removal technologies such as carbon capture and utilization and storage, particularly in hard-to-abate sectors
Removal technologies are part of the solution
High
Climate Impact
Hit
Hit or Miss?
Over U$792M already pledged but still a fraction of what is needed
Operationalization of loss and damage fund
Loss and damage
Low
Climate Impact
Miss
Hit or Miss?
At best, work on Article 6 markets has been deferred to a future COP
In the meantime, carbon offset markets are destined to continue to grow through bilateral agreements and further refinement and innovation in the voluntary markets
Parties failed to find an agreement.
Politicization of Article 6.4 and delays in its operationalization
Carbon markets