Global Governance Just Won Big — As The U.S. Left The Room

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Global Governance Just Won Big — As The U.S. Left The Room - Forbes

Quick Summary:

But it’s also something more: a proof of concept for a world hungry for functioning international cooperation and governance.

Shipowners who fail to meet emissions reduction targets will pay up to $380 per tonne of CO₂ equivalent, feeding into a new Net-Zero Fund to support the transition and ensure climate justice within the sector.It’s a milestone.

The climate crisis is increasingly being recognized not just as an ecological risk—but as a systemic economic threat.“We were discussing recent studies showing potential GDP losses of 19%, or even up to 50%, if we stay on our current trajectory,” Groff said.“And the insurance industry is already ringing the alarm bell.