The real drivers of the climate transition are no longer sitting in the sustainability department – they’re in finance.

Given that China is the world’s largest emitter and has a high carbon intensity, some assume that its trade war with the United States, which has shifted production to third countries, would have environmental benefits. In fact, the conflict has increased carbon dioxide emissions in developing and advanced economies alike. By Qiyuan Xu

COP30 delivered gains on climate finance and forests but stalled on fossil fuel phaseout – exposing both the limits of consensus talks and the growing role of action outside negotiations. By Jacqueline Peel