Abstract
Current pledges to reduce greenhouse gas emissions are insufficient to reach the temperature goal set out in the Paris Agreement and reaffirmed in the Glasgow Climate Pact. Closing the emissions gap requires additional cooperative efforts. Academics and political decision makers propose the formation of a climate club by means of trade measures against outsiders. We argue that the threat of trade measures can help to prevent members of a global climate club from leaving. For small climate clubs, however, trade measures can backfire and undermine cooperation if outsiders retaliate. The discussion should not narrowly focus on trade measures but rather consider instruments that align common interests of climate club members and are less prone to retaliation.
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