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Reuters
Reuters
Business
Dmitry Zhdannikov and Divya Chowdhury

Global energy and funding shocks test climate commitments

FILE PHOTO: A delegate walks past a climate change poster at the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 1, 2021. REUTERS/Phil Noble

Six months after the world agreed in Glasgow to a U.N. climate pact with bold, new targets, political and business leaders facing an energy crisis, volatile markets and an economic downturn are grappling with how to cut carbon emissions.

Amid soaring oil and gas prices triggered by Russia's Feb. 24 invasion of Ukraine, some countries have turned to other fuels, including coal, to meet their energy needs.

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