By putting climate action at the heart of their efforts to rebuild consensus and reinvigorate multilateralism, Asian countries can prop open the world’s window of opportunity to prevent climate disaster. They would also catalyze their own ability to benefit from the massive economic opportunities created by the green transition.
NEW YORK/SEOUL – A year ago, following US President Joe Biden’s election, multilateralism once again became the beating heart of global climate action. G20 leaders agreed to more ambitious near-term climate targets en route to achieving net-zero emissions by mid-century, and they committed to ending inefficient fossil-fuel subsidies and cooperating on clean energy deployment to phase out coal more quickly. The willingness of China and India to address fossil fuels reflected a growing awareness of the macroeconomic risks of resisting the clean-energy transition.
NEW YORK/SEOUL – A year ago, following US President Joe Biden’s election, multilateralism once again became the beating heart of global climate action. G20 leaders agreed to more ambitious near-term climate targets en route to achieving net-zero emissions by mid-century, and they committed to ending inefficient fossil-fuel subsidies and cooperating on clean energy deployment to phase out coal more quickly. The willingness of China and India to address fossil fuels reflected a growing awareness of the macroeconomic risks of resisting the clean-energy transition.