John Kerry Explains Why the Glasgow Climate Deal Matters
This week’s Stephanomics podcast unpacks two very different challenges facing global leaders: the climate crisis and domestic violence. First, U.S. Special Presidential Envoy for Climate John Kerry joins host Stephanie Flanders to share why he thinks the Glasgow Climate Pact is more than just words on paper. Among other achievements, Kerry notes that countries representing most of the world’s gross domestic product agreed to cut methane emissions by 30% this decade. Such cuts to this dangerous greenhouse gas (if they actually happen) would be a worthy accomplishment, even if rich nations have yet to fulfill a pledge to steer $100 billion a year to poorer nations facing the brunt of climate change.
As countries try to cut carbon, whether by a tax on emissions or other measures, leaders can limit the effects on inflation by adopting the measures sooner rather than later—when more drastic measures may be needed, Bloomberg’s senior Euro-area economist Maeva Cousin says.
Finally, Frankfurt-based economics reporter Carolynn Look shares the harrowing story of a German woman who escaped a violent partner and how some European companies are stepping forward to fight domestic abuse. They have a financial imperative as well as a moral one: gender-based violence is estimated by the European Institute for Gender Equality to cost the European Union economy 366 billion euros ($409 billion) a year.
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