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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.
Keywords:
International,
AF,
AP,
EE,
EUR,
INT,
LA/C,
ME/NAF,
NA,
RUCIS,
WE,
Australia,
Chile,
China,
Colombia,
EU,
Georgia,
Japan,
New Zealand,
Norway,
Philippines,
Portugal,
Russia,
South Africa,
South Korea,
United States,
Vietnam,
economy,
industry,
international relations,
politics,
climate,
coal,
emergency,
energy,
environment,
finance,
foreign trade,
government,
manufacturing,
natural resources,
policy,
reform,
renewable energy,
shipping,
Fossil fuels,
Renewable energy,
Transport & logistics
© Oxford Analytica 2020. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2020
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