The world has dramatically changed since COP26: Energy supply reliability and affordability tops the agenda in many countries, forcing near-term compromises on established priorities. At the same time, 2022 is on track to be the highest emission year on record, which calls for drastic climate action. COP27 has delivered tangible progress, but fundamental challenges remain, especially around transition financing and the appropriate pace of fossil fuels phase down.

This report contains our key takeaways from COP27 and the implications for corporations around the world.