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Fortune

Peter Vanham, Nicholas Gordon

COP28 'snatched a remarkable victory from the jaws of defeat'

United States Donald Trump Nikki Haley Ron DeSantis SEC

(Credit: Eusebio Garcia del Castillo—Europa Press via Getty Images)

Good morning from Geneva, and happy New Year.

Generative AI and geopolitics will continue to be big business stories in 2024. Let me add a third item to the “3G” trinity: the green transition.

2023 ended with a major global agreement. The UN climate summit in Dubai “snatched a remarkable victory from the jaws of defeat,” as Iberdrola chairman Ignacio Galan put it in a commentary piece for Fortune yesterday. Its final consensus was that the world needs to transition away from fossil fuels, triple renewable energy capacity, and double energy efficiency by 2030.

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