#COP29BAKU--Repeal of Inflation Reduction Act-- TRUMP DOCTRINE ON CLIMATE

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//WHITE LIGHTNING AI RESEARCH//11/14/24/1500PST//

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#COP29Baku IRA 11/14/24/1515PST: #Trump repeal of Inflation Reduction Act, along with evac from the Paris Agreement, would have a disastrous domino effect across the #climate initiative universe, allowing others to scale back commitments. #COP29Azerbaijan

(Image credit: Scientific American)

cop29 trump repeal of inflation reduction act

Begin Perplexity-AI

The 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, has been overshadowed by concerns about the potential impact of Donald Trump's recent election victory on global climate efforts. Here's a summary of the key points regarding Trump's potential repeal of the Inflation Reduction Act (IRA) and its implications for climate action:

U.S. Climate Envoy's Reassurances

John Podesta, the U.S. climate envoy, has sought to reassure the international community about the United States' commitment to climate action despite Trump's election:

• Podesta acknowledged the disappointment following Trump's victory but emphasized that climate change mitigation efforts will persist in the United States
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• He stressed that while Trump might slow down climate initiatives, he cannot completely halt them
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Inflation Reduction Act (IRA) and Its Future

The IRA, a landmark climate legislation enacted under President Joe Biden, has been a focal point of discussion:

• Podesta highlighted that the IRA will continue to drive investment in renewable energy technologies like solar and wind
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• He expressed confidence that the progress made through the IRA cannot be entirely undone, stating, "The direction is unmistakable, even if progress might be slowed"
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Challenges to Repealing the IRA

While Trump has vowed to repeal the IRA, there are significant obstacles:

• Repealing the IRA would require Congressional approval, which could be difficult due to support from some Republican lawmakers whose constituencies benefit from IRA-related investments
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• The IRA has already spurred substantial investment in clean energy, making it challenging to reverse its effects completely.

Global Implications

The potential U.S. retreat from climate engagement under a Trump presidency has raised concerns:

• There are worries that other countries might reconsider their climate commitments or scale back future goals if the U.S., as the second-largest emitter and biggest economy, does not maintain its commitments
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• The uncertainty surrounding U.S. climate policy could complicate international negotiations and efforts to address global warming.

Ongoing Climate Efforts

Despite the concerns, there are signs of continued progress in climate action:

• At COP29, delegates reached an agreement on new UN guidelines for international carbon markets, marking a crucial step toward enabling countries to trade carbon credits to achieve their climate goals
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• State governments in the U.S. are expected to continue advancing emissions reductions through their regulations
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In conclusion, while Trump's election and potential repeal of the IRA have cast a shadow over COP29, climate envoy John Podesta and other officials are working to maintain confidence in the U.S.'s commitment to climate action. The resilience of the IRA and ongoing global efforts suggest that while progress may be slowed, the overall trajectory towards addressing climate change is likely to continue.

How might Trump's repeal of the Inflation Reduction Act impact global climate agreements

The potential repeal of the Inflation Reduction Act (IRA) under a second Trump administration could have significant implications for global climate agreements and efforts to combat climate change:

Impact on U.S. Emissions Reduction

The IRA is a cornerstone of U.S. climate policy, providing substantial funding and incentives for clean energy development. Its repeal could:

• Slow down the transition to renewable energy sources in the U.S.
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• Make it unlikely for the U.S. to meet its emissions reduction targets
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• Potentially increase carbon dioxide emissions by about four billion tons between 2025 and 2030
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International Climate Diplomacy

The repeal of the IRA could have far-reaching effects on global climate efforts:

• Undermine international climate diplomacy and the U.S.'s credibility in climate negotiations
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• Potentially lead other countries to reconsider or scale back their climate commitments
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• Reduce U.S. climate finance assistance to vulnerable nations
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Paris Agreement

Trump has pledged to withdraw the U.S. from the Paris Agreement again:

• This would significantly impact global efforts to combat climate change
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• It could encourage other right-wing leaders to slow or ignore climate action
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• The U.S. might also withdraw from the United Nations Framework Convention on Climate Change, making future re-entry more difficult
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Economic and Market Impacts

The repeal of the IRA could have economic consequences:

• Disrupt the clean energy sector, which has seen planned investments grow to roughly $500 billion since the law's passage
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• Potentially lead to job losses in the clean energy industry
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• Create uncertainty for businesses and investors in the clean energy sector
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Potential Mitigating Factors

Despite these challenges, some factors might limit the impact of an IRA repeal:

• Complete repeal would require Congressional approval, which could be difficult due to bipartisan support for some aspects of the law
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• Many IRA benefits have flowed to Republican districts, potentially complicating repeal efforts
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• Market dynamics and cost-effectiveness of renewable energy may continue to drive clean energy investments
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In conclusion, while the repeal of the IRA would likely have significant negative impacts on global climate efforts, some aspects of clean energy progress may continue due to market forces and existing investments. However, the loss of U.S. leadership in global climate initiatives could substantially hinder international efforts to address climate change.

End Perplexity-AI

Full Text: cop29 trump repeal of inflation reduction act

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//WHITE LIGHTNING AI RESEARCH//11/14/24/1500PST//

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