Key Points

• Energy-security arguments are increasingly being used to justify weaker or more flexible climate rules, especially around methane and fossil-fuel development.
• Renewable deployment is still constrained by grid and market design, but policy changes in China and investment flows suggest continued expansion.
• Climate-risk signals remain strong, with record heat, heavy rainfall, wildfire impacts, and tipping-point concerns appearing across regions.
• Adaptation capacity is still described as fragmented or inadequate, with governments responding after impacts rather than reducing exposure in advance.
• Carbon accounting and emissions metrics are becoming a source of uncertainty, especially where rule changes alter how progress is measured.
• Solar, wind, and batteries continue to be framed as reliable power-system assets, while carbon capture remains less stable and more exposed to corporate reshuffling.