Will the Ukraine war derail the green energy transition?
Source: https://www.ft.com/content/93eb06ec-ba6c-4ad2-8fae-5b66235632b2
Author: Leslie Hook and Neil Hume
By the end of the COP26 climate summit in Glasgow in November, negotiators felt a fragile sense of progress had been achieved. More than 80 per cent of the world’s emissions were covered by governments’ pledges to achieve net zero - that is, when the amount of greenhouse gases added to the atmosphere is equal to the amount taken out. The summit had witnessed key agreements on deforestation, methane emissions and coal production. At least 23 countries made new commitments to phase out coal power, including in south-east Asia and Europe. The final deal between 197 countries contained an agreement to draw down fossil fuel subsidies, despite a fierce argument that broke out over whether coal should be “phased down” or “phased out”. But the direction of travel was clear, said COP26 president Alok Sharma. “Countries are turning their back on coal