You searched for: Content Type Commentary and Analysis Remove constraint Content Type: Commentary and Analysis Publishing Institution Centre for European Policy Studies Remove constraint Publishing Institution: Centre for European Policy Studies Topic Climate Finance Remove constraint Topic: Climate Finance
- Author: Milan Elkerbout
- Publication Date: 06-2017
- Content Type: Commentary and Analysis
- Institution: Centre for European Policy Studies
- Abstract: The withdrawal of the United States from the Paris Agreement represents a setback for global climate action. But the damage will be felt more in political and diplomatic terms than in terms of climate policy or reductions in greenhouse gas (GHG) emissions, which depend at least in the near term on domestic climate policies. The election of Donald Trump and the strong Republican majorities in both Houses of Congress that accompanied his election immediately dispelled any hope that the US would implement or maintain ambitious climate policies. Indeed, in the first months of his Presidency, Trump signed an executive order to review (and thus likely roll back) President Obama’s landmark climate policy – the Clean Power Plan. The latter initiative aimed to reduce power-sector emissions by 32% by 2030 through federal legislation. Other US climate policies, such as vehicle standards and methane regulations, are also destined for the axe. Taken collectively, these measures will make it very difficult for the country to meet its Paris pledge of reducing GHG emissions by 26-28% by 2025 compared to 2005, even if another personality occupies the White House by 2021. 1 Improving fundamentals for renewable energy may still allow the US to reach its 2020 target of a 17% reduction in emissions compared to 2005. But the difference between this target and the formal pledge made by the US in Paris is roughly equal to the annual emissions of the entire transport sector in the EU.
- Topic: Climate Change, International Affairs, Climate Finance
- Political Geography: Global Focus