Walking requires lower power as compared to jogging or running and therefore larger fraction of fat is burned. But walking also burns fewer total calories during the same time. Therefore, even though fat burning percentage for jogging is lower, the total calories from fat and total calories from fat+carbs are higher than walking.
If you make the durations iso-caloric (adjust the duration of walking and jogging such that equal calories are burned: for example, compare 30 minutes jogging with say 60 minutes walking), then perhaps the absolute fat-burn calories will exceed absolute carb-burn calories.
Even in this case weight loss will be identical. Because scientifically, a calorie from fat is identical with a calorie from carbs! The number of calories burnt due to fat is less important than the total number of calories burned, because even if you burn a lot of calories due to carbs, they are required to be replaced not only by your dietary carbohydrates, but also your fat stores will be broken down and converted into carbs when you need fuel.
At rest, roughly 33% of the body's calories come from carbs
or glycogen, stored within the muscles and liver.
66% calories come from fat
50-60% of the calories are derived from fat.
Plasma glucose and glycogen are utilized in the first several
minutes of exercise
At about 50% of VO2max there is a crossover point where
carbs become more dominant than fat for energy production
For a healthy person, it takes about 20 to 30 minutes
of continuous aerobic exercise to burn 50% fat and 50%
As the duration of workout increases, there is a larger
contribution from fat as compared to carbohydrates
For effective fat loss and better cardiovascular fitness and for
disease prevention and management (with doctor's advice!),
You should engage in any moderately intense exercise like
jogging / outdoor cycling for 40 minutes per day
OR brisk walking for at least 1 hour per day
six to seven days a week !