World Bank loans
In order for the international community to commit to significant emissions reductions, you suggest that developed countries should substantially increase the World Bank's climate change loan funds. Developing countries could use these loans to help ease the economic burden of developing renewable energy solutions in the short term. Furthermore, the World Bank would offer favorable loan terms to developing countries, so as not to undermine long-term economic stability.
As the president of the United States crafting national and international strategies for dealing with climate change, you have made a series of decisions. Let's analyze the implications of each of your choices.
First, you decided to subsidize renewable energy. This was a great decision as you have made the transition to low-cost renewable energy alternatives easier. Over time, the wind and nuclear energy industries will use your subsidies to innovate and drive down their costs. As renewable energy costs decrease, more and more businesses will spurn fossil fuels for renewables to fuel their industrial efforts. This will help the US meet its future emission reduction goals.
Second, you chose to pursue an international agreement on climate change. Your strategy to get developing countries on board by providing loans through the World Bank was unsuccessful as many countries such as China, India, and Brazil expressed concern over the effectiveness of the loans. Many of the developing countries view the loans as economically destabilizing in the long term. Unfortunately, you were unable to coalesce the international community towards a comprehensive solution to climate change.
Overall, you have done a subpar job. You made solid progress with regards to domestic energy policy. That being said, you were unable to foster a multilateral response to climate change. As the threat of climate change looms large, the international community must band together and act before it is too late.