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COP27 was a familiar story all over again as countries struggled to reach a compromise on how to limit global warming.
The good news is that countries agreed to set up a loss and damage fund that will help smaller and poorer nations suffering the most from climate change. A structure is supposed to be set up by the time of the next COP conference in 2023.
However, we need to see what will happen. Remember that in COP15, rich countries pledged to give $100 billion a year in climate financing. So far, this pledge has not been met for a single year.
Moreover, there was no consensus in accelerating emission cuts and the timeline to phase down fossil fuels. As Moneycontrol reported yesterday, the Egypt climate declaration has only called for a low-carbon development, which implicitly means that there is no global stricture on not expanding the role of natural gas.
As our columnist Shailendra Yashwant puts it, “COP27 may have reached a compromise deal to save the process, but Sharm El-Sheikh also exposed an unfortunate truth, that the world governments are so entangled with polluting industries that they are unable to take the path of transformative change that the climate emergency requires.” You can read his full piece here.
In another piece, it is argued that while climate conferences such as COP27 make new promises, with little progress on the previous ones, that should not stop India from rolling out a decarbonisation initiative. Read more here. Investing insights from our research team
Safari – What after the huge outperformance?
HDFC Life vs SBI Life vs ICICI Pru: Which insurance stock should investors bet on?
IGL and MGL: CGD sector is in a tight spot, may still see upside
Steel sector: Does export duty roll-back change anything for ferrous metals?
Aarti Industries: Post demerger, a pure play on aromatic chemistry
What else are we reading?
Steel export duty rollback: Too little, too late?
SEBI’s move to expand material event reporting was due
Draft Data Bill — A mix of comfort and concern
The Eastern Window | New self-seeking world order may be good for India Why Visa and Mastercard have yet to face their Kodak moment (republished from the FT)
FIFA World Cup | Brand gains of Byju’s will be closely tracked
G20: Under India's presidency, security issues will precede economic engagement
FIFA World Cup | Messi’s last chance to change Maradona’s Argentina template
Technical Picks: TI India, Laurus Lab, IDBI Bank, Silver mini, Vedanta and USD-INR (These are published every trading day before markets open and can be read on the app).
Ravi Krishnan
Moneycontrol Pro
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