COP28 was also set to be a memorable one, against the backdrop of geopolitical tensions, economic uncertainty and the first year where nations had to face the reality of progress (or lack thereof) made to date. Following tense negotiations, the final Global Stocktake text calls for the transition away from fossil fuels, a step forward as the first acknowledgement of that kind. For investors, several emerging themes and an uplift in ambition have downstream implications for portfolios warranting further consideration.
