Global trade has been a notorious difficult sector to sign up for decarbonization. The crux of the problem is that its business is crossborder, and thus skirts the emissions reduction plans of individual national states. Much of it thus gets a free ride. Paul Hockenos reports This, though is changing, particularly in Europe. The coronacrisis presents a rare opportunity for the EU and member states to get touch with cargo carriers. The first steps are already underway. Freight transport — whether by air, land or sea — still relies overwhelmingly on fossil fuels, and accounts for 7% of all global emissions. This is why experts agree that international trade must be decarbonized if we expect to hit the Paris Agreement’s climate goals. Today, with the world’s freight carriers deeply shaken and supply chains upturned, is exactly the right time to reshape it. Indeed, many of the world’s largest freight transporters are flailing and will be reliant on government monies to survive. Major European airlines and automakers are cutting massive bailout deals with their governments right … Continue reading Corona Crisis Presents Window to Decarbonize Global Trade