The  Mounting  Challenge  of  Global  Governance   - Ernesto  Zedillo   The  Graduate  Institute,  Geneva

1     Somehow,  the  Graduate  Institute  also  gave  me  the  chance  to  expand  on  the   fear  I  had  expressed  in  my  TAIT  lecture,  for  Professor  Charles  Wyplosz   commissioned  Jeffry  Frieden,  Dani  Rodrik,  Michael  Pettis  and  myself  to  produce  the   14th  Geneva  Report  on  the  World  Economy  of  2012,  which  we  titled  After  the  Fall:   The  Future  of  Global  C. [...]     3   Under  the  impulse  of  the  crisis,  early  on  the  G20  went  back  to  the  old,  but   repeatedly  unfulfilled,  objective  of  reforming  comprehensively  the  multilateral   financial  institutions. [...]       9   Although  we  all  should  be  pleased  that  the  Paris  meeting  reached  an   agreement  –and  thus  avoided  the  failure  that  was  encountered  at  the  Copenhagen   COP  of  2009,  we  should  curb  our  enthusiasm  about  the  capacity  that  the  Paris   Agreement  may  have  to  deliver  its  ultimate  objective  of  sufficient  climate  change   mitigation. [...]   As  expected,  since  the  prohibition  and  punitive  model  has  failed  to  achieve   its  objectives  in  the  US  and  other  highly  developed  countries,  it  is  not  the  least   surprising  that  the  model’s  effects  on  countries  with  weaker  institutions  and  fewer                                                                                                                   1. [...]                           16  .