Communities everywhere still have record climate impacts, from deadly wildfires to devastating storms. These effects will only worsen in the absence of major measures to combat climate change. Fortunately, the world has the plan to respond to science: the Paris Agreement. Nearly four years ago, 195 countries adopted the Paris Agreement, a historic global action plan to combat climate change. The agreement provides the world with a framework for preventing the harmful effects of climate change by limiting global warming to well below 2 degrees Celsius and by leading efforts to limit it to 1.5 degrees Celsius. It is also important to take more account of the distribution of the benefits and costs of economic globalization. Many developing countries are now the most affected by global warming, while they enjoy relatively little of the benefits of globalization. However, throwing the child out of the water with the bath water and reversing economic globalization is one step too far. Finally, the positive effects are considerable on a global scale. The challenge, therefore, is to make globalization economically and environmentally attractive.
This is not an obvious goal, but a necessary one. In this sense, climate change is an opportunity to literally recognize our interdependence. At a time of globalization, our destinies are inevitably intertwined. It is time to accept this reality. Climate change and global warming are now – and this is not wrongly – hot topics. In its Annual Global Risk Report (2019), the World Economic Forum (WEF) has made the failure to combat climate change and its consequences, such as extreme weather, one of the most significant and likely risks the world could face over the next decade. Economic globalization is often cited as one of the causes of today`s climate problems. However, globalization could also contribute to possible solutions. While economic globalization has contributed to a climate challenge, it can also contribute to possible solutions. Globalization is accelerating the spread of climate-friendly technologies through global networks of industries, capital flows and research and development. In addition, the dissemination of new technologies will facilitate monitoring and increase transparency in measures to combat climate change.
The challenge, therefore, is to make globalization economically and environmentally beneficial. While this is not an obvious goal, it is necessary. Because globalization is a key factor in transnational climate risks, less developed economies may do less of some TCI indicators. However, several factors can lead to higher ITD rates, as evidenced by several small developing and developing countries (e.g.B.