Full Title: Paris Climate Agreement: Instead of Regulations and Mandates, Embrace Markets
Author(s): Nicolas D. Loris
Publisher(s): The Heritage Foundation
Publication Date: February 25, 2021
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President Biden announced his intent to re-enter the Paris climate agreement. With no enforcement mechanisms in place and no repercussions for failing to meet emissions-reduction targets, the agreement is ill-suited to meet climate objectives. However, the regulations imposed on the American economy as the U.S. submits a new Nationally Determined Contribution will adversely affect consumers and businesses. Instead of a top-down, regulatory approach, Congress and the Biden Administration should remove barriers to clean energy innovation and adoption.