Deglobalisation is accelerated through old-fashioned protectionism, newfangled “friend-shoring” (limiting trade to countries with shared values), and geo-strategically motivated bans and sanctions. To see why this trend will frustrate global responses to climate change, consider the three categories of climate action: Mitigation (emissions reduction), adaptation, and migration to better conditions.
The deliberations at this year’s United Nations Climate Change Conference (COP27) suggest that while policymakers realise the urgency of combating climate change, they are unlikely to reach a comprehensive collective agreement to address it.
But there is still a way for the world to improve the chances of more effective action in the future: Hit the brakes on deglobalisation. Otherwise, the possibilities for climate action will be reduced by the shrinkage of cross-border trade and investment flows and the accompanying rise of increasingly isolated regional trading blocs.
