President Biden’s announced target to achieve a 50 percent reduction in greenhouse gas emissions within a decade is a tremendous boon to the Paris Climate Agreement goals. Without diminishing the positives of this reset of US policy, it is still important to remember that, with any seismic shift, there will be winners and losers. Recent research has discussed the emerging challenge of fossil fuel producing countries, which risk losing entire swathes of their economies’ production capacities, and thus their wealth.
CGD Policy Blogs
Last week President Biden announced sweeping measures to reengage the US government in the fight against climate change. With US Special Envoy for Climate John Kerry suggesting the need for “humility and ambition,” we suggest five ways for the new US administration to be more ambitious on the international stage.