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

Author

Listed:
  • Lim, Soyoung

    (Korea Institute for Industrial Economics and Trade)

  • Kim, Kye Hwan

    (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.

Suggested Citation

  • Lim, Soyoung & Kim, Kye Hwan, 2021. "The Biden Administration’s Climate Crisis Policy as Seen at the Leaders Summit on Climate," i-KIET Issues and Analysis 21/6, Korea Institute for Industrial Economics and Trade.
  • Handle: RePEc:ris:kietia:2021_006
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    More about this item

    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;
    All these keywords.

    JEL classification:

    • Q34 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Natural Resources and Domestic and International Conflicts
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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