Remarks
The Expensive Club That Could Stop Global Warming
Yale’s William Nordhaus calls for a Climate Club of nations that agree to cut emissions—and sanction non-members
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Ever heard of the Climate Club? It has extremely expensive dues, but you might find it worthwhile to pay them, because the cost of not joining is even higher. Nations that belong to the club welcome all comers (the carrot) and punish those that don’t join (the stick). The Climate Club has one mission: to save the planet by driving emissions of greenhouse gases to zero.
If you haven’t heard of the Climate Club yet, don’t feel bad—it does not, as of now, exist. It’s the hobbyhorse of William Nordhaus, the Yale University economist who won a Nobel prize in 2018 “for integrating climate change into long-run macroeconomic analysis.”