VW's Diesel Crisis Is Now a Global Threat

If scandal spreads to gas engines and carbon dioxide, the Paris climate accord is threatened.

On the road to more trouble.

Photographer: Miles Willis/Bloomberg

If Volkswagen was hoping that its $10 billion buyback settlement with U.S. officials would bring some closure to months of hand-wringing over diesel emissions, its timing couldn't have been worse. A flood of news over the past week showed that what was once a single company's scandal has grown into a global regulatory crisis. As world leaders gathered in New York to sign the Paris climate accord on Friday, a cloud of doubt settled over one of the most hotly debated areas of environmental regulation.

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