Phasing out fossil fuels is critical to global efforts to tackle climate change, but actions to curb emissions are hindered by protections granted under international investment law.
The study supports the exploration of options for a voluntary standstill on inefficient fossil fuel subsidies for the APEC Committee on Trade and Investment.
The International Institute for Sustainable Development (IISD), an independent think tank, said in July 2021 that India lagged behind other key markets for Electric Vehicles such as China, Europe, and the United States.
While some in the U.S. view a recent deal with the European Union to resolve tariffs on steel and aluminum as a step toward a so-called “climate club” approach to global decarbonization, the EU likely will not, according to an economist who has been studying policies designed to guard against “carbon leakage.”
Canada must leave 83% of its fossil fuel reserves and 84% of its tar sands/oil sands in the ground if the world is to have even a 50% chance of holding average global warming to 1.5°C, according to a paper published in the prestigious journal Nature.