"It is deeply regrettable and resoundingly bad for green companies that the EGA deal has sunk," says Peter C. Brun, senior advisor at Think Tank Europa, in an interview with EnergyWatch.
He is referring to the fact that the World Trade Organization's attempts to secure a huge green trade deal, the Environmental Goods Agreement (EGA), have failed. The EGA should have been locked into place from the beginning of December when representatives from 46 WTO member countries met in Geneva.
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Now signed by the US president and thus fully formalized, the watered-down version of Biden’s climate campaign bill – full of compromises to get conservative Democrats on aboard and thus attracting critique from many observers – nonetheless contains the nation’s most sweeping legislation supporting the green transition to date, thereby on account of sheer size reviving some hope of averting the worst outcome for global climate.