A Energy Thematic Group presentation
The United States is the only developed economy without a national domestic carbon price. Other countries, most notably the European Union, have started demanding that foreign imports pay a comparable carbon price upon entry to their markets to prevent leakage. They have termed this policy a “carbon border adjustment mechanism” (CBAM), and its implementation appears to elevate climate ambitions of other countries, incentivizing both carbon price adoption as well as CBAM implementation. As the number of countries considering or adopting one or both policy instruments grows, there is also discussion of forming some type of “climate club” with a shared basis of pricing carbon as the price of entry. If such efforts are successful, this creates a new geopolitical lever on the global stage that leaves the US on the outside looking in. Today’s talk will focus on CBAMs, including their rationale, their implementation, their impacts, and how this is affecting geopolitics in an unsettled time where various aspects of the American-built rules-based order are under enormous strain.
Speaker: Dr. Danny Richter is a policy professional with a background in the sciences. He earned his Ph.D. in oceanography from the Scripps Institution of Oceanography at UCSD studying paleoproxy development using diatoms and trace metals. He then went onto work for Citizens’ Climate Lobby where, as VP of Government Affairs, he helped pass 5 climate bills signed into law by Presidents Trump and Biden. After 9 years at CCL, he joined the Pricing Carbon Initiative, which he currently directs. PCI engages a network of over 300 stakeholders on topics inspired by, but not limited to, carbon pricing. This diverse network of policymakers, business leaders, advocates, and experts spans the political divide, and addresses policy issues at the state, federal, and international levels. Danny is also the Principal at Richter Capitol Hill Strategies where he translates between science and policy to achieve data-driven outcomes.
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