As Donald Trump steps back into the role of President, experts predict substantial challenges ahead for climate action both domestically and globally. With the COP29 climate talks on the horizon, Trump's election is viewed as a considerable barrier to progress regarding emissions reductions and financial support for developing nations. Known for his skepticism towards climate change initiatives, Trump has previously characterized strategies to promote renewable energy as deceptive.
Historically, climate change did not dominate the discourse in this year's elections; however, the potential consequences of Trump's policies could echo those from his previous administration. Back in 2017, Trump announced a withdrawal from the Paris Agreement, the cornerstone international pact to combat climate change. At that time, the rules delayed the withdrawal until late 2020, providing a temporary cushion. Under this new administration, should he decide to exit again, he could do so within a year, effectively allowing him three years of relative exemption from international commitments.
Commentators caution that the United States could emerge from the environmental summit in Azerbaijan as a "dead duck," with no binding commitments, which could discourage nations like China from making progress on their own pledges. Historically, wealthier countries have pressed for financial contributions from emerging economies to support climate initiatives, a dialogue that may stall given the current political climate. According to experts, the financial gap for developing nations striving for net-zero emissions is vast, necessitating urgent funding.
Domestically, Trump is expected to advocate for increased oil and gas drilling, relax environmental regulations, and impose tariffs on imported clean technology, such as electric vehicles and solar energy products from China. Industry voices, such as Dan Eberhart from Canary LLC, suggest that voters should expect a "drill baby drill" ethos governing U.S. energy policy moving forward. Such sentiments have already led to concerns among renewable energy advocates, reflected in plunging stock prices for turbine manufacturers.
However, the long-term effects of Trump's administration on the renewable energy sector remain uncertain. While the momentum towards clean technology investment is strong, some Republican districts have benefited significantly from Biden's Inflation Reduction Act, which has channeled around $1 trillion into green projects.
As global leaders brace for the impacts of Trump's reign, many, including former UN climate chief Christiana Figueres, express hope that the ongoing shift towards a decarbonized economy will persist, despite the challenges posed by the new administration. "It represents a significant setback for global climate action," Figueres noted, "but it will not stop the necessary transitions towards sustainability."
Historically, climate change did not dominate the discourse in this year's elections; however, the potential consequences of Trump's policies could echo those from his previous administration. Back in 2017, Trump announced a withdrawal from the Paris Agreement, the cornerstone international pact to combat climate change. At that time, the rules delayed the withdrawal until late 2020, providing a temporary cushion. Under this new administration, should he decide to exit again, he could do so within a year, effectively allowing him three years of relative exemption from international commitments.
Commentators caution that the United States could emerge from the environmental summit in Azerbaijan as a "dead duck," with no binding commitments, which could discourage nations like China from making progress on their own pledges. Historically, wealthier countries have pressed for financial contributions from emerging economies to support climate initiatives, a dialogue that may stall given the current political climate. According to experts, the financial gap for developing nations striving for net-zero emissions is vast, necessitating urgent funding.
Domestically, Trump is expected to advocate for increased oil and gas drilling, relax environmental regulations, and impose tariffs on imported clean technology, such as electric vehicles and solar energy products from China. Industry voices, such as Dan Eberhart from Canary LLC, suggest that voters should expect a "drill baby drill" ethos governing U.S. energy policy moving forward. Such sentiments have already led to concerns among renewable energy advocates, reflected in plunging stock prices for turbine manufacturers.
However, the long-term effects of Trump's administration on the renewable energy sector remain uncertain. While the momentum towards clean technology investment is strong, some Republican districts have benefited significantly from Biden's Inflation Reduction Act, which has channeled around $1 trillion into green projects.
As global leaders brace for the impacts of Trump's reign, many, including former UN climate chief Christiana Figueres, express hope that the ongoing shift towards a decarbonized economy will persist, despite the challenges posed by the new administration. "It represents a significant setback for global climate action," Figueres noted, "but it will not stop the necessary transitions towards sustainability."
