Article

The Paris Accord Won’t Stop Global Warming on its Own

This magazine piece proposes a new type of plurilateral trade agreement, foreshadowing but going well beyond the ‘Climate Club’ initiative of Germany’s 2019 G7 presidency, to coordinate multiple economic policies and standards of major economies in order to scale the penetration of low-carbon products and services in the world economy and avert a trade war over disparate carbon border adjustment schemes.

Outlet: Foreign Policy

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Author: Richard Samans

Original article is here.

Excerpts:

To stabilize the planet’s warming by midcentury at levels our children and grandchildren will find manageable, the world needs a new economic framework to accelerate the propagation of low-carbon energy innovations.

The world needs a new alliance of green economic powers to create a large and expanding low-carbon economic zone based on alignment or mutual recognition of policies and incentives with respect to tariffs, procurement, financial regulation, subsidies, technical standards, emission trading schemes, border adjustment measures, etc.