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Coordinating climate policies internationally - What’s the state of play? And where are we heading? Panel II of the “Designing climate policies” series of events hosted jointly by the Deutsche Bundesbank, the Center for Liberal Modernity and the Potsdam Institute for Climate Impact Research

Climate change is a global challenge that calls for international coordination. Greenhouse gas emissions do not stop at national borders, and a considerable share of global emissions can be put down to international trade. Using and protecting the global commons means applying appropriate pricing and enforcement mechanisms as a way of aligning the incentives of the countries most affected by climate change with those of the nations responsible for the bulk of global emissions.

International treaties lack enforcement provisions, however. Signatories to the Paris Agreement and the G7/G20 Member States have formulated objectives, but there are no sanctions mechanisms. Policy measures remain largely voluntary. Nationally determined contributions (NDCs) and long-term policy objectives make sense in principle, but have proven insufficient to achieve the objectives of the Paris Agreement. In short, while the international community has agreed on common objectives, there is still a lack of effective cooperation to achieve them. President Biden’s Leaders Summit on Climate, which took place in April 2021, reignited the debate surrounding the international coordination of climate policy.

This panel, which continues the series of events, takes stock of international climate action and discusses the way ahead. Key questions include how much policy coordination is needed beyond the definition of common objectives, and how much discretion is necessary in national implementation. The panellists contribute a broad range of experiences and cover the viewpoints of the United States, Europe and China, in particular.

Panel II – online event on 5 July 2021, 15:00-17:00 (CEST)

Event language: English

“Coordinating climate policies internationally - What’s the state of play? And where are we heading?”

Welcome address and Moderator
Professor Dr. Claudia M. Buch
Vice-President of the Deutsche Bundesbank
Speech text


Dr. Susanne Dröge
Senior Fellow, German Institute for International and Security Affairs

Professor Dr. Ottmar Edenhofer
Director and Chief Economist of the Potsdam Institute for Climate Impact Research, Director of the Mercator Research Institute on Global Commons and Climate Change and Professor of the Economics of Climate Change at the Technische Universität Berlin

Professor Ye Qi, Ph.D.
Professor and Director of the Institute of Public Policy at the Hong Kong University of Science and Technology and Member of the Sustainability Advisory Council at Volkswagen AG

Professor Robert Stavins, Ph.D.
Professor of Energy and Economic Development at Harvard University, Director of the Harvard Environmental Economics Program and Director of the Harvard Project on Climate Agreements