Summary of the main developments on the fourth day of the UN climate summit in Glasgow
About half the world’s fossil fuel assets could become worthless by 2036 under a net zero transition, new research has found. A drop in demand for oil and gas will reshape the geopolitical landscape, with countries that are slow to decarbonise likely to suffer but early movers will profit.
Country pledges at Cop26 could limit global temperature rise to 1.8C, according to the International Energy Agency. The figure is lower than the 2C prediction made a day earlier. However, others have warned not to get complacent with estimates. The world remains on “a 2.7 degree pathway, a catastrophic pathway,” said Selwin Hart, UN special adviser.
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