A Role for the G-20 in Addressing Climate Change?

20 Pages Posted: 2 Dec 2010 Last revised: 12 May 2013

See all articles by Trevor Houser

Trevor Houser

affiliation not provided to SSRN

Date Written: October 1, 2010

Abstract

Following the chaotic Copenhagen conference of the UN Framework Convention on Climate Change (UNFCCC), policymakers and pundits have discussed the G-20 as an alternative forum for advancing climate change diplomacy. This paper assesses the risks and rewards of tackling climate change in the G-20 and finds that despite its seeming attractiveness, the G-20, as structured, is not a suitable replacement for the UN-led process and has limited ability, at present, to advance climate change negotiations. There is much, however, that the G-20 can do to contribute to the goals of the climate negotiations outside of wading into the negotiations themselves. Building on its existing agenda the G-20 has the power to significantly reduce global greenhouse gas emissions, accelerate the deployment of clean energy technology, and help vulnerable countries adapt to a warmer world through the mobilization of public and private finance. Following through on the existing G-20 pledge to phase out and rationalize inefficient fossil fuel subsidies, establishing new green guidelines for multilateral development banks, coordinating green stimulus exit strategies, promoting open markets for environmental goods and services, and rebalancing global economic growth all fall well within the G-20's mandate and help meet the climate challenge.

Keywords: climate change, carbon, climate finance, UNFCCC, G20, green stimulus, macroeconomic imbalances, environmental goods and services, multilateral development banks, climate finance, fossil fuel subsidies

JEL Classification: Q00, Q27, Q48, Q54, F18, F35, F50, F51, F52, F53, F55

Suggested Citation

Houser, Trevor, A Role for the G-20 in Addressing Climate Change? (October 1, 2010). Peterson Institute for International Economics Working Paper No. 10-15. Available at SSRN: https://ssrn.com/abstract=1718617 or http://dx.doi.org/10.2139/ssrn.1718617

Trevor Houser (Contact Author)

affiliation not provided to SSRN ( email )

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