· 2 min read
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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