30 Mar How climate change has become a critical part of US and European Relations
Climate change has taken a back seat in diplomatic discussions with global leaders for years. Climate issues generally fell to the bottom of priorities covered in critical meetings and summits. Despite the ongoing conflicts in Europe and growing tensions between China and the West, the most prioritised item on the agenda for the EU Commission President Ursula Von Der Leyen and US President Joe Biden in Washington is climate change.
Both the US and the EU have implemented emission reduction plans at the core of their economic growth strategies and, as a result, have invested billions into climate-related measures. This investment has resulted in significant, unanticipated consequences as leaders from both sides attempt to navigate the new wave of the global economy. Representatives believe the meeting between the two leaders will help create a way forwards for progressive cooperation between the US and Europe. As the transition towards a clean economy continues, climate change is a core element of international relations.
The rise of climate change in geopolitical conversations has accelerated. For years, countries have come together in international meetings to discuss climate change, but for years the discussions were primarily led by environmental representatives. In recent years, particularly since the impacts of the pandemic, the world’s leading economies have increasingly integrated climate measures within economic policies. China has continued to focus on being a global leader in clean energy manufacturing, supporting the production of solar PV panels and other clean energy technologies. The EU has delivered new policies to allocate financing to the clean energy industry, and the US introduced the Inflation Reduction Act (IRA), including $369 billion to support the transition. These mentioned economic measures plan to support local economies, but there have been regional disputes over national plans and their impact on the global climate market. Despite initial concerns, US and European leaders have promised to work together and support each other with their climate-related plans. John Podesta, advisor responsible for implementing and overseeing the IRA, believes both regions have a shared interest in delivering a secure, reliable and friendly supply chain. Podesta explains that the priority is finding a way of decarbonising the future path.
According to a study from American Clean Power, an industry group for green energy businesses, the US saw $40 billion in clean energy investment in just 3 months after passing the bill. Furthermore, a report from the nonprofit OurEnergyPolicy indicates that approximately 100,000 climate-focused jobs have developed after implementing IRA. Aside from the economic benefits, this significant transformation in the clean energy transition for the US will support climate action plans and put the country on the right path to reduce carbon emissions by about 40% below 2005 levels by 2030.
We’re experiencing how clean energy solutions can work for us, and we must keep the momentum going. As policymakers continue integrating additional climate policies, representatives must focus on the critical opportunity: clean energy permitting reform.
As the US continues to benefit from a green future, new transmission lines are significant for shifting clean energy from wind and solar in rural areas to other urban and coastal regions. Developing a new transmission line takes over ten years due to the current permitting process. Consequently, expanding electricity transmission is currently 1% a year, and at this rate, studies suggest that only 20% of emission reductions anticipated from the IRA will be achieved by 2030. If the permitting process is updated, America will enable the full potential of clean energy, reducing energy bills, decreasing air pollution and enhancing people’s lives.
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