Green industrial policy consists of a series of policy tools aimed at promoting the development of specific green industries. They can stimulate enterprises to invest in green technologies through measures such as research and development subsidies and tax incentives, and guide the whole society to reduce environmental negative externality behaviors.
Read MoreThe website “Restoring American Leadership” which chronicles the transition plans of U.S. President Elect Joe Biden includes a vision specifically on climate change. It calls on the United States to go further than just rejoining the Paris Climate Agreement to build “a more resilient, sustainable economy – one that will put the United States on an irreversible path to achieve net-zero emission, economy-wide, by no later than 2050.” The plan references multiple ways to accomplish net zero goals including promoting climate smart agriculture, building greener and more resilient public transportation infrastructure, and decarbonizing the power sector as well as creating additional union jobs via a major program upgrading existing buildings.
The transition planning, as described, misses the opportunity to put U.S. actions into a global perspective. We offer some suggestions for the new administration, based on the Climate Policy Lab’s research, on how to marry national domestic climate policy with international challenges and opportunities.
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