Forming a “club” of countries to take tougher action on climate change could help to end more than 30 years of failures to curb CO2 emissions, says William Nordhaus.

The 2018 Nobel Prize-winning economist told a conference organised by the European Central Bank that efforts to curb emissions were going “basically nowhere in terms of strong policy”. He also warned that while green finance was desirable, it would prove insufficient without decisive action from policy-makers.

Although Covid-19