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What the COP28 climate deal means for investors
Last-minute negotiations at the COP28 UN climate summit produced a consensus agreement on Wednesday. For the first time, leaders will call for a global transition away from fossil fuels to meet net-zero emission targets by 2050. Expectations for a meaningful deal were low after disputes over the use of “phase out” language, which at one point was fully removed and replaced with voluntary options. Instead, the almost 200 nations involved agreed to begin “transitioning away from fossil fuels in energy systems, in a just, orderly, and equitable manner.” The eventual impact of the deal will largely depend on its ... (full story)