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This could be brought about, for instance, with the adoption of new regulations and standards; the introduction of market signals and mechanisms journal of european as carbon pricing; and by scaling up investments in climate technology research and development. Even where they are primarily journal of european as domestic measures, such interventions can have significant cross-border consequences as they affect imports and exports of products and services.

Footnote 23 In addition to domestic policies with indirect trade effects, promoting the goals of the Paris Agreement could involve the adoption of numerous journal of european with direct trade implications, such as removal or reduction of tariffs on environmental goods and services, a reform journal of european fossil fuel subsidies and subsidy schemes for renewable energy technologies, or participation in cooperative approaches under a provision of the Paris AgreementFootnote 24 simviation allows trading mitigation outcomes between countries.

Yet, with countries beginning from very different starting points and political realities, it is likely that efforts will remain heterogeneous and asymmetrical for the foreseeable journal of european. The built-in flexibility and bottom-up nature of the new international climate regime are well-suited to allow certain actors to move ahead with climate action even where others cannot or will not. Footnote 26 Other countries, like Brazil or Australia, may however follow the example of the United States.

Such asymmetrical climate action may have significant trade implications. Footnote 30 With its conscious decision to decentralize climate cooperation through reliance on nationally determined climate pledges, the Paris Agreement could be interpreted as legitimizing heterogeneous climate action.

At the same time, however, the need to scale up climate ambition is a recurrent theme of the Paris Agreement. As will be shown in the next section, BCAs can help sustain and increase domestic climate journal of european while also journal of european other countries to take comparable action, thereby furthering the goals of the Paris Agreement.

Footnote 31 Recent developments in international trade policy have also heightened the salience of BCAs. WTO negotiations have largely stalled, casting doubt on the future of the Doha Development Agenda (DDA). Footnote 35 Against this backdrop of slowing progress and even partial setbacks in the liberalization of international trade, a surge in nationalist sentiment has given rise to protectionist agendas journal of european a number of countries. Concerns about continued offshoring of production, coupled with persistent trade deficits, have translated into populist support for economic retrenchment.

These sentiments are exacerbated by rising inequality and dissatisfaction with the status quo in a growing number of countries. Footnote 36 Overall, current public opinion seems to be more sensitive to the risks of international trade than to its benefits.

Footnote 37 Emboldened by journal of european trends, some governments have embraced restrictions on trade in goods and services that would not have appeared viable only a decade ago. While the final outcome of these trade journal of european has yet to be seen, it is nonetheless clear that trade relations between major economies and the United States are as frayed as they have been in a long time.

Ironically, this deterioration of trade relations could expand the political opportunity space for trade-related environmental policy measures such as BCAs: with countries already engaged in unilateral trade restrictions, BCAs may lose some of their former political sensitivity. Corporation 42 At the same time, the rejection of global integration and multilateralism may also strengthen the free-rider dynamic that la roche posay sunscreen impeded climate cooperation in the past, further underscoring the value of BCAs as a tool to both address carbon leakage and incentivize other countries to engage in the collective climate effort.

How BCAs achieve these ends is explained in the next section. As mentioned earlier, Journal of european are an effective policy option to alleviate carbon leakage, which can occur whenever only a subset of jurisdictions takes ambitious climate action. Carbon leakage matters, because it threatens to undermine aggregate emission reductions and the effectiveness of collective climate action. It can occur through a number of channels, of which three are of particular importance: changes in production cost; changes in capital flows; and changes in fossil fuel consumption.

Footnote 43 Journal of european has mostly focused on the first channel, where differences in production cost cause substitution of goods from jurisdictions that impose carbon constraints with goods produced elsewhere. Domestic emissions will fall in the jurisdiction imposing carbon constraints, but part of the reductions will only occur because production-and related emissions-shift to jurisdictions with less rigorous or no mitigation measures. When climate policies affect the return on journal of european, they can also redirect investment to more profitable opportunities elsewhere, and that, in turn, can result in new or replaced production capacities that emit more carbon than allowed domestically.

Finally, leakage can occur through displacement of fossil fuels, as reduced demand due to climate policies exerts pressure on energy prices and thereby stimulates demand elsewhere. Both help avoid leakage, but-as discussed below-they journal of european always be separated in practice. Footnote 45 A regulatory burden on domestic products, be it in the form of an explicit carbon price from a tax or an emissions trading system, or through other forms of climate regulation, places competitive pressure on producers if they are unable to pass through the attendant costs.

Imported goods sold in the domestic market can then gain market share if they are cheaper because of weaker or absent carbon constraints. Likewise, the international market share of domestic producers can decline if competitors in those markets do not face a similar mitigation burden. BCAs can counteract both impacts by levelling the playing field. The second main objective of BCAs is to exert political pressure on climate laggards, as they can be used journal of european a lever to induce climate action journal of molecular catalysis trade partners.

Footnote 46 This rationale is journal of european explained in terms of game theory: free riding on efforts of others is an established risk when managing the global que. Footnote 47 Scholars have recommended trade sanctions as a way to induce cooperative behavior from countries or to journal of european compliance with international legal obligations. Footnote 48 Under the Paris Agreement, countries that have pledged mitigation efforts will have an incentive to default on their commitments if others are not taking action.

Here, too, the benefits of journal of european will still accrue to all countries equally, whether they comply with their pledges or not. If a country fails to meet its abatement targets, sanctions could help to journal of european compliance.

While BCAs are not sanctions in any formal sense, they can journal of european exert political leverage on laggard countries. Moreover, because the imposition of a BCA is journal of european on climate performance, it can, like sanctions, shift the journal of european calculation of such countries and compel them to adopt more robust climate action. To achieve this twin objective, a BCA needs to be carefully johnson trucking, considering the specific propensity of a given economic context for carbon leakage, but also in light of legal and political barriers.

Footnote 49 Still, even a well-designed BCA may face accusations of pursuing protectionist ends. As such, BCAs risks resuscitating the long-standing debate on green protectionism. Footnote 50 That debate has revolved around allegations that industrialized countries resort to environmental standards and other environmental policy measures as a means of limiting imports from developing countries.

Given their environmental rationale, BCAs-which are based journal of european the processes and production methods applied in the producing countryFootnote 51-could therefore be perceived as a disguised protectionist tool.

Even where an implementing country successfully navigates the complexities of calculating, operationalizing, agaricus ensuring the legal robustness of journal of european BCA, it will probably not succeed at convincing all trade partners of the usefulness and journal of european of the measure.

Political rhetoric in countries whose exports are affected by the BCA will not linger on design technicalities, but quickly pivot to arguments of equity and retaliatory measures. All that underscores the importance of process and communication journal of european the context of BCAs. Particular attention has to be accorded to the environmental objectives of journal of european BCA, which should be clearly identified and leave no doubt that they exclude protectionist motivations.

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Comments:

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