Several major reports were released just ahead of this year's COP28 in the UAE on the state of climate action, the widening gap between actual progress and policies on decarbonization, and what would be needed to limit warming to well below 2°C.

In this second of a two-part instalment of PGIM Fixed Income's Fixed on ESG, James Malone, CFA, ESG Research Specialist, and John Ploeg, CFA, Co-Head of ESG Research, examine the latest developments in global climate action. They provide an in-depth analysis of the UN's Emissions Gap Report along with other key reports, exploring the potential outcomes under existing climate policies, the impact of fully meeting Paris Agreement pledges, and how these scenarios measure up against what is necessary to limit warming to 1.5°C.

Recorded on December 15, 2023.