Pandemic will not stop international climate action
Wednesday, November 4, 2020
Significance
This has deprived social movements of opportunities to mobilise public opinion. However, a recent surge of major economies and businesses setting long-term ‘net zero’ emission targets offers hope that 2019 might have been the peak year for global carbon emissions.
Impacts
- Campaigners will bring more litigation cases to press for more ambitious national policies.
- Carbon border pricing will become more attractive in higher-ambition jurisdictions, but it will also trigger geopolitical pushback.
- Efficiency investments in energy and transport will slow as demand falls and capital becomes tighter, affecting their business cases.
- A confirmed Biden win in yesterday’s US presidential election would see US withdrawal from the Paris Agreement reversed.