Global | Ambition, promises and climate policies

Summary

Policy ambition must be brought up to the same level of ambition that drives pledges, such as those announced at the last Leaders Summit on Climate.

Key points

• Key points:
• Over the last ten years, with different economies performing very differently, the elasticity of emissions to global growth has been slowing down, but much more is needed and the ambition to achieve this is starting to show.
• The Leaders Summit on Climate organized by the United States was a succession of announcements to reduce greenhouse gases (GHG) and promises to detail further adjustments at the upcoming United Nations Climate Change Conference of the Parties (COP26) in Glasgow.
• The United States is committed to halving its emissions by 2030, compared to the amount it produced in 2005, thereby multiplying the decarbonization achieved in the last decade by almost five.
• Policy ambition must be brought up to the same level of ambition that drives commitments. Global incentives need to be created, such as carbon adjustment mechanisms at borders, which in turn require domestic pricing mechanisms, compliance with regulations and incentives, thereby avoiding trade discrimination complains. This will help contribute to the innovation that is essential for transitioning to a low-carbon economy.

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