Globalization may have fallen out of favor in recent years, but preserving it is an environmental imperative. Effective, coordinated responses to climate change are being set back by the shrinkage of cross-border trade and investment flows, and by the accompanying rise of isolated regional trading blocs.
CHICAGO – The deliberations at this year’s United Nations Climate Change Conference (COP27) suggest that while policymakers realize the urgency of combating climate change, they are unlikely to reach a comprehensive collective agreement to address it. But there is still a way for the world to improve the chances of more effective action in the future: hit the brakes on deglobalization. Otherwise, the possibilities for climate action will be set back by the shrinkage of cross-border trade and investment flows, and by the accompanying rise of increasingly isolated regional trading blocs.
CHICAGO – The deliberations at this year’s United Nations Climate Change Conference (COP27) suggest that while policymakers realize the urgency of combating climate change, they are unlikely to reach a comprehensive collective agreement to address it. But there is still a way for the world to improve the chances of more effective action in the future: hit the brakes on deglobalization. Otherwise, the possibilities for climate action will be set back by the shrinkage of cross-border trade and investment flows, and by the accompanying rise of increasingly isolated regional trading blocs.