"A deal is hard to reach because the legitimate climate ambition of a rapid end to burning fossil fuel runs into the equally legitimate reality of fossil dependence. As Mr Cohen observes, 'You can wish fossil fuels away, but they still comprise 80% of world energy supply and are growing.' A new scenario from the IEA, a global forecaster, for achieving net-zero emissions envisions a significant amount of fossil-fuel use even in 2050 (albeit at much lower levels than today), making a mockery of talk of rapid phase-out."

"Most importantly, trade, in the climate change era, allows economies with relatively clean sources of energy to specialize in energy-intensive goods and services. It is essential both to shift the footprint of global production to where things can be made at the least cost to the environment and to allow the dirtier producers in the developing world to acquire technologies — mostly originated in richer nations — that will enable them to reduce their emissions, too."

Bill Spindle of Cipher reports on the challenges of carbon markets. “As COP28 approaches, the industry is attempting a major reboot. After years of intense activity by dozens of study groups and implementation committees, the carbon trading industry has launched fresh initiatives to raise the quality of offsets and codify what claims buyers can credibly...

"The key is to drive down the green premium and make green product prices competitive against fossil-based product prices – and that’s going to require more than just government subsidies. Financing these projects requires thinking beyond the traditional market to overcome the investment risks involved. It’s going to require the public and private sector working together to deploy these projects."

"We cannot afford to build a clean energy future that makes us more dependent on the likes of Russia or China. Rather, we must bolster our national security by building out our nuclear fleet with abundant and secure supply chains."