In the past two weeks global markets have been dazed with more major announcements in the run up to the UN climate conference in December. China announced a 2017 launch for the world's largest carbon cap and trade market while India marked a major milestone in global climate negotiations as the last major economy to submit a UN pledge. Over 140 countries have now made carbon reduction pledges to the UN covering more than 80% of global CO2 energy related emissions. For the global energy industry the announcements raise huge questions on the potential implications for global energy demand particularly for coal producers but also for oil and gas companies. In this issue of the Signpost Tracker Wood Mackenzie looks at these key signposts and the potential broader implications for the global energy outlook.