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illuminem summarizes for you the essential news of the day. Read the full piece on Sustainability Magazine or enjoy below:
🗞️ Driving the news: The 2024 U.S. Presidential Election could substantially impact global sustainability, with the Democratic and Republican parties sharply divided on ESG and climate action
• Kamala Harris emphasizes clean energy and global climate cooperation, while Donald Trump promotes fossil fuel expansion and energy independence.
🔭 The context: As the world’s second-largest polluter and historical leader in emissions, the U.S. plays a crucial role in global climate targets
• The Biden administration committed to net zero by 2050, but the UN warns progress is off track
Candidates’ divergent views could either bolster or hinder U.S. involvement in the Paris Agreement and sustainable policies
🌍 Why it matters for the planet: The election’s outcome will likely influence international climate efforts, as the U.S. holds major sway in setting global sustainability standards
• A Trump victory could signal a shift toward fossil fuels, potentially undermining multilateral agreements, while Harris’ approach aims to bolster green energy and pollution reduction
⏭️ What's next: Regardless of the winner, regulatory and state entities, more than the presidency alone, will shape corporate sustainability priorities, with PwC surveys revealing business leaders' concerns about policy volatility
• If elected, Trump has pledged to exit the Paris Agreement again, which could have widespread effects on climate commitments
💬 One quote: “The candidates' policies, plans, and even beliefs on climate change are worlds apart,” - David Carlin, Head of Risk at the United Nations Environment Programme Finance Initiative
📈 One stat: 55% of U.S. executives in a PwC survey say they would increase sustainability investments under Harris, versus 46% under Trump.
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