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Critics contend that the ratification of “climate credits” regulations on the first day of Cop29 was expedited. With the threat of climate change looming larger than ever, the annual UN climate COP conference has kicked off in Baku, Azerbaijan. As leaders from around the world gather to discuss how to address this pressing issue, the world’s wealthiest nation finds itself in a precarious position with a leader who has a history of opposing climate action.
For the past three decades, global initiatives aimed at reducing emissions and combating climate change have struggled to make significant progress. The urgency of the situation has only increased as 2024 is on track to surpass 2023 as the warmest year on record. Last year saw record-high greenhouse gas emissions and cities worldwide continue to face extreme weather events. The United States, as the second-largest emitter of greenhouse gases after China, cannot afford to sit idly by.
The return of Donald Trump to the White House comes at a critical juncture for the green energy transition. While progress has been made in developing renewable technologies, the Trump administration’s policies may hinder further advancements. Trump’s threats to repeal climate laws and increase fossil fuel production could deter investment in green industries and hinder efforts to combat climate change.
Despite the economic benefits of renewable energy sources becoming increasingly apparent, the Trump administration’s actions may discourage other leaders from investing in green technologies. China has already established itself as a leader in renewable energy investment, surpassing the US and the EU. Trump’s influence could further tip the scales in China’s favor, undermining efforts to combat climate change on a global scale.
The outcome of the 2022 elections will play a significant role in determining the future of US climate policy. Trump’s campaign team has hinted at the possibility of withdrawing the US from the Paris Agreement, a move that could have far-reaching consequences for international collaboration on climate issues. While there is no indication of an immediate exodus from the agreement, Trump’s advisers are considering withdrawing the US from the UN Framework Convention on Climate Change, which could have a more lasting impact.
As leaders gather in Baku to discuss new financial objectives to assist developing nations in adapting to a changing climate, the US’s role in these discussions remains uncertain. Wealthy nations have struggled to meet previous financial objectives, and the prospect of increased commitments in the face of a potential US withdrawal raises significant challenges. The EU and China may need to step up to fill the void left by the US and ensure that progress on climate action continues.
While it is unlikely that Trump will completely derail the COP process or halt the global energy transition, his administration’s policies could slow down progress significantly. The world cannot afford to wait for the US to catch up, and other nations must be prepared to lead the way on climate action. In a time of unprecedented challenges, cooperation and collaboration are more important than ever if we are to address the urgent threat of climate change.
