That is over a quarter of a century ago. 25 years in which many more steps have been taken, leading up to the Paris Agreement of 2015. The good news is that momentum is building. And not a moment too soon. In 1992, there was little consensus on the catastrophic effects of rising temperatures.
There are two main facets of preparing for accession that I will focus on today because they are particularly relevant from an economic point of view. The first concerns catching up to play at the level of the team. For the economy, this entails institutional development and stable macroeconomic policy-making.