According to analysis by Wood Mackenzie published on Thursday, if Trump emerges victorious in the Nov5th presidential election, a projected $1 trillion in low-carbon energy investments would be jeopardised, and carbon emissions would be 1 billion tonnes more by 2050 than under current policies.
“This election cycle will really influence the pace of energy investment, both in the next five years and through 2050,” said David Brown, director of Wood Mackenzie’s Energy Transition Research. “Investments in low carbon supply need to be made in the near term to realize longer-dated decarbonization targets. US carbon emissions could grow, putting net zero out of reach in our delayed transition scenario.”
President Joe Biden, President Joe Biden, has made curbing climate change and boosting clean energy manufacturing big parts of his presidency and re-election campaign. Unlike Trump who said he would reverse many of the Biden administration’s signature climate policies, such as tax credits for electric vehicles and strong emissions standards for cars and power plants. He is expected to once again withdraw the U.S. from the Paris climate agreement.
In 2050, Wood Mackenzie projects, net US energy-related CO2 emissions will be 1 billion tonnes higher compared to what they would be under current policies.
The research firm also projects that the total stock of electric vehicles by 2050 would be 50% lower than under current policies since automakers would likely increase investments in hybrid production over electric cars.
But the case will not be the same, if the Republicans reverse key policies bolstering low-carbon energy and infrastructure improvements.
