Biden takes the US economy across the climate Rubicon

President Biden’s international summit on climate marked the comeback of the United States to the Paris Agreement after the withdrawal by the previous US administration. A more ambitious US climate commitment was announced on this occasion, consisting in halving greenhouse gas emissions by 2030 from the 2005 level.

The Paris Agreement is based on an iterative process. While ratifying the agreement, countries submitted a first commitment to reduce greenhouse gas emissions via a “Nationally Determined Contribution” (NDC). Every five years, after a general review, countries will revise their commitment and submit a new NDC.

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