The Prime Minister has just officially launched the UK-led Global Clean Power Alliance which aims to meet COP28 commitments to triple renewable energy.
Meanwhile, at the COP29, China, Trump and the EU, each go their own way, over green vs. stranded fossil assets.
Here’s an excerpt from that piece, chosen by a CAPS observer:
China, the EU, the UK and Brazil will accelerate weaning off fossil fuels, leaving the U.S., and Canada too, to increase the production of these fuels as the market for these fuels dwindles.
China will persist in manufacturing more clean tech, solar, wind, EVs, batteries/storage, plus electrifying its industries at levels greater than the rest of the world combined.
For the U.S., action on climate change to compete with China, will take inconceivable huge hits with Trump, while fossil fuel production will be administered steroids. The clean tech private sector will linger, falling behind with decisions based on quarterly reports. This may be regarded as a continuation of the U.S. losing ground on clean tech leadership.
Canada has much to lose, especially with Conservative Pierre Poiliève, the likely next Prime Minister, aligned with Trump on denial of climate change, increasing oil and gas production and many other issues.
The EU seeks win-win formulae with rational environmental and economic considerations. The EU may show the way forward.
And at COP29, the UK pledged to reduce emissions by 81% by 2035 from 1990 levels and Brazil has prepared a comprehensive climate plan for a 59% to 67% GHG reduction by 2035 based on 2005 levels.
China, the EU, UK and Brazil will stand out as global climate leaders.
Finally, homing in on electric vehicles, on the one hand, according to Investopedia, Elon Musk supports ending EV tax credits because ‘domestic competitors would slow their investment’; on the other, to see the cars of the future, look at China’s electric vehicles says the Economist. Meanwhile, Ford cuts 4,000 jobs in Europe, including 800 in UK, after a slowdown in EV sales.
So, China dominates the world of electric cars because of generous government subsidies and support for lithium batteries. Do we copy them or keep them out?
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