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12 October 2022

Team of LSE experts led by Lord Nicholas Stern issues report on international climate club

The report looks at how international cooperation in the form of an inclusive climate club can promote climate ambition and facilitate the decarbonisation of industry.

In the Paris Agreement, the international community set itself ambitious climate targets. Unfortunately, however, the steps and pledges made so far at the global level are not sufficient to achieve them.

In the meantime, natural disasters such as floods and droughts show that climate change is already having a terrible impact on humans and their environment. We cannot fight climate change at the national level alone. Tackling this key global challenge requires global solutions and especially international cooperation.

That is why, at their summit in Elmau, the heads of state and government of the G7 countries pledged to set up an open international climate club by the end of 2022. The aim is to enhance international cooperation in the area of climate policy, strengthen climate ambitions, and improve and accelerate efforts to drive forward the transformation of industries.

The report presented by Lord Nicholas Stern and his co-authors will make an important contribution to the debate on international cooperation on climate action and the role a climate club could play in this. The independent report was commissioned by the German Finance Ministry under Germany’s G7 presidency.