COP26 and the US
This is a great summary of what has COP26 achieved but most importantly, Robert Stavins evaluates the US ability to deliver on its pledge to reduce GHG emissions by 5-52% by 2030 below the 2005 level:
- The Biden administration has included in its scaled-down “reconciliation bill” a $555-billion spending plan of tax breaks, tax credits, and other subsidies for various approaches and types of clean energy generation and use. But, what would have been an effective program for green electricity generation has been scrapped, and fees on methane releases may or may not survive;
- Can the US achieve its Nationally Determined Contributions (NDCs) through regulation? The regulatory approach, in general, is particularly challenging because legal challenges from the political right are much more likely to be successful during the Biden years than they were during the Obama years, given the 245 Trump-appointed Federal judges.
What Happened in Glasgow at COP26?
By: Robert Stavins – Harvard University
COP26 and Europe
Europe needs to bridge a climate action funding gap of €350 billion ($401 billion) per year over at least the next ten years. […]But the EU already has the tool it needs to close the gap: it just needs to create a true capital-markets and banking union.[…]With a genuine capital-markets union, the EU would expand financing opportunities for companies and attract capital from around the world, and the euro could become truly competitive with the dollar.
A Capital-Markets Union Is the Key to Greening Europe
By: Christian Sewing, Werner Hoyer – Deutsche Bank, European Investment Bank
COP26 and developing countries
[T]he rich world’s promises of green technology transfer have become mere lip service. Developed-country governments allowed domestic companies to cling to intellectual-property rights that block the spread of critical knowledge for climate mitigation and adaptation. When countries like China and India have sought to encourage their own renewable-energy industries, the US, in particular, has filed complaints with the World Trade Organization.
The Rich World’s Climate Hypocrisy
By: Jayati Ghosh – University of Massachusetts Amherst
