Tuesday Talk “The spectre of carbon leakage” by Nino Jordan, appointed Klaus Töpfer Sustainability Fellow, shows that the spectre of carbon leakage - the relocation of emissions-intensive operations to escape regulation, displacing rather than reducing emissions - is a key barrier to high climate policy ambition levels. Carbon clubs and border carbon adjustments are the main instruments proposed to counter carbon leakage but they can only be implemented at a high level, there is high uncertainty about their prospects and they may lack in ambition.