Trump victory leaves China calling the shots at COP29 climate negotiations

illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:

🗞️ Driving the news: Following Donald Trump’s election win, the U.S. is set to exit the Paris Agreement again, pivoting toward fossil fuels under the mantra "drill, baby, drill" 
• In contrast, China is expanding its climate commitments, emerging as a global leader in renewable energy investments and positioning itself as a key ally for developing nations in their green transitions

🔭 The context: In past climate summits, U.S.-China cooperation was essential in negotiating breakthroughs, such as the 2015 Paris Agreement
• Trump’s withdrawal signals a retreat from international climate leadership, while China now views renewable industries as central to its economic and diplomatic strategy, promoting green tech exports and building influence in developing markets

🌍 Why it matters for the planet: The divergence between the two largest greenhouse-gas emitters has significant implications for global climate goals
• China’s expanding role in green finance and technology export strengthens international climate action, but U.S. disengagement risks undermining momentum and widening the gap in global emissions reduction efforts

⏭️ What's next: At COP29, negotiators will work on a post-2025 climate finance goal, with pressure on China to contribute funds to help developing nations
• While China supports other developing nations, it has yet to commit financial resources through the U.N., leaving open questions about its future role in international climate finance

💬 One quote: “Everyone looks to China now... I think with the U.S. out, China will step up, but in a very different way,” - Jonathan Pershing, former U.S. climate negotiator

📈 One stat: The U.S. has pledged only $17.5 million for the "loss and damage" climate fund, while European nations pledged around $430 million

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