Despite an increasingly challenging economic and geopolitical environment, the global economy performed better than expected over the past year. But although analysts’ projections for 2023 were too pessimistic, it appears that consensus forecasts for the coming year may have have swung too far in the opposite direction.
worries that domestic political divisions and market volatility could exacerbate financial vulnerabilities.
If COP28 is to be judged a success, the UAE, as the summit’s host, and other hydrocarbon producers should promise to dedicate some of the windfall oil and gas profits they earned last year to accelerating the green transition in the Global South. Doing so could encourage historic and current emitters to pay their fair share.
urges oil-exporting countries to kickstart a program of green investment in the Global South at COP28.
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