Climate and geopolitics: What role for the EU?
Mark Leonard's World in 30 Minutes
00:00
The European Border Adjustment Mechanism and the European Emissions Trading Scheme
The OECD looks at the relative carbon prices implied by everything from fossil fuel subsidies to explicit carbon pricing. It can feel a little bit disingenuous because you're saying that these things are different, but actually their impact on the real economy is the same. I think how countries regulate tax incentivize is a domestic political economy problem and it's better that countries use the instruments that can be the most ambitious than are wedded to a particular policy instrument.
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