The lack of energy policy stability in the US could have major implications for global decarbonisation and Net Zero targets, a leading energy academic has warned.
Speaking on gasworld’s 1895 podcast, ‘Is economic growth at the expense of Net Zero targets?’, Dimitri Zenghelis, Visiting Senior Fellow, Grantham Research Institute, at The London School of Economics and Political Science (LSE), said, “Some cities and states may plough on regardless with what Trump is doing, but the US is clearly not a safe location for investment in these new technologies. I expect the Chinese and Indians are rubbing their hands with glee, as they recognise this is still the way the world will go in future.”
Ten years ago, if the US had said it was pulling out of the Paris Agreement and unwinding renewables investment, then the developing countries would have probably followed suit.
“Those were in the days when decarbonisation was seen as a cost; wind forward to the present time, you can see a palpable difference – it’s now seen as a great opportunity to steal a march on America,” he added.
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