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Reason
Reason
Ronald Bailey

Promoting Free Market Solutions to Climate Change at COP28

Climate Change COP28 CBAM European Union Los Angeles

Dubai, United Arab Emirates—"There is no greater admission of policy failure" than Europe's carbon border adjustment mechanism (CBAM), said Rod Richardson, head of the pro-market Grace Richardson Fund.* "Our carbon pricing is failing, so our solution to shooting ourselves in our own foot is to shoot everyone else in theirs."

Richardson made this observation at COP28, the United Nations' latest climate summit, during a roundtable contrasting American and European climate change policies.

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