C-MACC Weekly “CRETER” (Climate etc.)
COP(OUT)27: Likelier Than Most Hope; the World is Depressed
- COP27 could look very different from COP26, with much less broad agreement and more countries fighting their own corner much harder than last year.
- The joy of “post-COVID” meeting face to face, coupled with rapidly improving economies, kept the mood upbeat and the desire for collaboration high last year.
- The last 12 months have seen drastic change – geopolitical strife and economies in freefall in many places – not an environment for concession/collaboration.
- Calls for uniform carbon pricing – more incentives for clean and penalties for dirty will fall on an uneven audience – activists will get louder and more aggressive.
- Otherwise, we look at marine fuel – ammonia versus methanol, RNG – so much demand and so little supply, and CCS permitting.
See PDF below for all charts, tables and diagrams