Unity After Trump Victory More Important than Ever

The World Climate Conference (COP29) will take place in Baku, Azerbaijan, from 11 to 22 November. Following the election of Donald Trump, much is at stake. Dr. Oliver Schenker, deputy head of ZEW Mannheim’s “Environmental and Climate Economics” Research Unit, has commented on the matter:

“The COP29 in Baku is faced with the challenge of keeping the Paris Climate Accords alive in a time of global tension, growing international rifts and empty coffers. Now that Donald Trump has won the United States presidential election, the situation will not get any easier. Many fear that the United States will once again withdraw from the Paris Agreement during Trump’s second term, just as the administration did in 2017.

Thus, a strong signal of unity is more important than ever. Ground-breaking progress on central issues such as the phasing out of fossil fuels cannot be expected, but reaching agreement in other areas could demonstrate the ability of international climate diplomacy to overcome global problems.

Top priority on the agenda is how to finance the global energy transition and adaptations to climate change. Many developing countries are calling for significantly more financial support than before. However, this is not being met with much response from the industrialised nations.

This means that it is now all the more important to make progress on negotiations to create an international carbon market, the possibility of which was arranged for under Article 6 of the Paris Agreement. Much could be accomplished by coming to an agreement on robust regulations and standards for international emissions trading that actually result in a tangible reduction of emissions. Such an agreement could be an important basis for affordable, efficient and cooperative international climate protection in the future.”