AFTER THE EU-US SUMMIT: WHAT’S NEXT FOR INTERNATIONAL COOPERATION ON INDUSTRIAL DECARBONIZATION? - Please watch this expert discussion on strengthening international cooperation on trade policies to enable decarbonization of heavy industry, hosted by the Atlantic Council Global Energy Center and Climate Advisers. During the discussion, panelists also addressed the outcomes of the EU-US Leaders Summit related to the harmonization of trade of emissions-intensive goods.
With the conclusion of the negotiations for the Global Arrangement on Sustainable Steel and Aluminum approaching, the EU’s Carbon Border Adjustment Mechanism entering its transition phase, and an increase in domestic green industrial subsidies, there is growing need to align standards for low-carbon industrial production and harmonize trade policies in order to prevent overcapacity and ensure a level playing field, ultimately contributing to global emissions reductions.
While the EU and US are making promising strides towards industrial decarbonization and climate-aligned trade policies, it is imperative to coordinate with major heavy industry producing countries to achieve climate objectives. Ensuring that EU-US negotiations result in solutions that can be extended globally will be critical in fostering international cooperation that transcends the transatlantic relationship.
ORIGINAL AIRDATE: 10/24/23