Umbrella Group

Stance on Fossil Fuels

The group recognizes the importance of limiting global warming to 1.5 degrees Celsius, as outlined in the Paris Agreement. To achieve this goal, they advocate for a gradual transition away from fossil fuels rather than abrupt changes like degrowth, which they argue would harm their economies. Although not all countries explicitly oppose degrowth, most favor approaches that support steady economic growth. Market-based solutions, such as carbon trading and emissions pricing, are widely supported as they balance economic progress with climate action. These strategies provide financial incentives for reducing emissions and place a cost on carbon, encouraging investment in cleaner technologies.

This focus on market solutions fits within the realist international relations theory, where states act in their own self-interest in an anarchic global system. However, this approach faces criticism, as market-driven strategies may be insufficient to address the climate crisis in time. Prioritizing economic growth over sustainability risks producing policies that fall short of achieving globally agreed-upon climate goals.