As Trump melted into the background at Davos, one big new climate idea stood out

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Something strange happened this week: for the first time in a long time, Donald Trump wasn't the main attraction at a gathering of world leaders. The circus had lost its ringmaster, writes BevanShields

Truth is the master showman's attention was elsewhere. He may have been in Switzerland but the Eurosceptic's eyes were focused on his impeachment trial in Washington and the rapidly approaching November election. Any new major international confrontations would have to wait.

About one fifth of the formal sessions at Davos were directly related to the intersection between climate change and the economy. Heavy hitters like International Monetary Fund Managing Director Kristalina Georgieva, European Central Bank President Christine Lagarde and German Chancellor Angela Merkel all enthusiastically addressed the elephant in the room.

A couple of hours before that address, European Commission President Ursula von der Leyen also spoke of a proposed scheme that has received a staggering lack of attention given its potentially huge ramifications for emissions reduction policy. Expect to hear a lot more about this big idea over the coming months.

Its first phase would likely apply to industries like steel, cement and aluminium but the scheme could be expanded to the mining and resources sector. Australia's dominant resources market is Asia but it still exported about $4 billion worth of coal to the EU in 2018.Credit:The whole idea is to protect European businesses from goods produced in countries without a carbon price, therefore encouraging overseas producers to lower their emissions and avoid any financial import penalties.

 

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BevanShields CNBC interview with Trump at Davos suggests the opposite:

BevanShields He was the star of the show for sure- the AMERICAN economy is booming!

BevanShields Impression is he drown himself under the water as person frequently changing sides, opinions and his unpredictable mind and no one can actually rely on him with much confidence. Nothing can be done or guaranteed on a long run so perhaps better wait for another president.

BevanShields Absolute Fake News Propaganda by the age!

BevanShields Davos - another useless talkfest.

BevanShields Trump still had an impact.

BevanShields Lol, our media are hilarious,

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