Author: Dr Daniel Wilde, Economic Adviser At last year’s UN climate summit (COP28), the world committed to transitioning away from fossil fuels and reaffirmed its commitment to limiting global warming to 1.5 degrees Celsius. But business-as-usual will not achieve these goals. Greenhouse gas emissions continue to rise, forecasted emissions are higher than the carbon budget consistent with limiting climate change to 1.5 degrees Celsius, and given current policies, fossil fuel production is expected to continue increasing. Countries need to implement new policies if they hope to tackle climate change.