The Biden Administration’s Climate Crisis Policy as Seen at the Leaders Summit on Climate

Soyoung Lim () and Kye Hwan Kim ()
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Soyoung Lim: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr
Kye Hwan Kim: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 21/6, i-KIET Issues and Analysis from Korea Institute for Industrial Economics and Trade

Abstract: Starting from his election campaign, U.S. President Joseph Biden has shown a proactive stance on responding to climate change and pledged to establish American leadership on the issue through the hosting of a Leaders Summit on Climate. During the summit, heads of state affirmed their commitments to responding to climate change and shared ideas on cooperative action, including setting higher targets for greenhouse gas reductions and expanding the emissions trading system. At the summit the U.S. indicated its firm commitment to assuming leadership in response toward climate change, while alluding to changes to its relationship with China vis-à-vis the issue. Korea too must transform its economic and industrial structure to actively respond to climate change while pursuing a full-scale green recovery from the COVID-19 pandemic. This analytical brief summarizes the events of the Leaders Summit on Climate and the climate-related policies and pledges of summit attendees and other major countries. It also proposes a set of recommendations for the Korean response to the climate crisis.

Keywords: COVID-19; Korea; US; United States; Leaders Summit on Climate; emissions; climate change; climate policy; green transition; sustainability; clean energy; green energy; environmental policy; sustainability policy; emissions policy (search for similar items in EconPapers)
JEL-codes: Q34 Q38 Q40 Q42 Q52 Q54 Q56 Q58 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2021-04-30
New Economics Papers: this item is included in nep-ene and nep-env
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