<p>COP27 in Egypt was held in a major oiland gas-producing country but, unlike COP26, it featured substantial engagement from the fossil fuel industry. Although it ended with significant&nbsp; progress in some areas, particularly on climate finance and adaptation, progress on mitigation was limited. Nevertheless, around COP27, and in the run-up to COP28, important deals concerning &lsquo;just transitions&rsquo;, methane, renewables, and hydrogen were struck.</p>

<p>What is the impact of COP27 on long-term demand for the major fossil fuels &ndash; coal, oil, and gas? What pathways have been laid for future changes? Where will COP28 take the next steps?</p>
