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Posted On: 11/14/2024 4:55:58 PM
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Trump Presidency Could Cause Issues for Climate Change Policy and Businesses Embracing ESG
Specialist climate and sustainability adviser Michael Watson stated recently that Trump’s presidential election win was very significant for international climate policy. Watson cited statements from the incoming president’s campaign which suggested that his administration would impede the adoption of new climate policies.
During his campaign, Trump stated that America would no longer take part in annual COP meetings following its withdrawal from the Paris Agreement. This means that the U.S. will no longer be required to submit a climate action plan to the UN, despite being the 2nd biggest emitter of greenhouse gases globally.
According to Watson, Trump holds the opinion that climate action may be conflicting with the interests of American businesses and the economy at large.
Many expect the incoming 47th president to go as far as to prohibit businesses in America from gathering data related to ESG. It is also possible that asset managers may be restricted from making investments related to ESG. This, Watson explains, would increase ‘geopolitical fault lines’ on climate policy while creating conflicts for international businesses actively operating in both the American and European markets.
Under the Corporate Sustainability Reporting Directive, businesses are expected to report how issues with sustainability affect their development, position and performance as well as the impact they have on individuals and the environment.
These requirements are expected to affect more and more businesses as time goes by. Next year, large firms in the U.S. with shares listed on EU stock exchanges will be required to present their reports. Towards the end of the decade, more American firms with presence and activities in the European Union will be in-scope of the directive.
Watson explains that businesses impacted by the directive and conflicting American laws may also find it hard to operate in the new environment.
He adds that any slowing or reversal of climate policy in America would probably create bigger gaps between U.S. regulations and those in Europe and regions in Asia where significant progress on climate change has been made while also affecting funding for climate action initiatives.
There may be advantages to Trump’s win though. For instance, Watson expects that America withdrawing from the climate agenda will afford other countries economic opportunities. He posits that investors could direct their attention towards supporting clean technology and renewable projects in other jurisdictions. This would, in turn, attract investments to other countries and help build the capacity and skills to export both expertise and technologies that address the climate crisis.
Entities like First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are likely to keenly follow any policy changes that President Trump announces in order to ascertain what impact the incoming administration could have on their ESG programs.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the ESGWireNews website applicable to all content provided by ESG, wherever published or re-published: https://www.ESGWireNews.com/Disclaimer
Specialist climate and sustainability adviser Michael Watson stated recently that Trump’s presidential election win was very significant for international climate policy. Watson cited statements from the incoming president’s campaign which suggested that his administration would impede the adoption of new climate policies.
During his campaign, Trump stated that America would no longer take part in annual COP meetings following its withdrawal from the Paris Agreement. This means that the U.S. will no longer be required to submit a climate action plan to the UN, despite being the 2nd biggest emitter of greenhouse gases globally.
According to Watson, Trump holds the opinion that climate action may be conflicting with the interests of American businesses and the economy at large.
Many expect the incoming 47th president to go as far as to prohibit businesses in America from gathering data related to ESG. It is also possible that asset managers may be restricted from making investments related to ESG. This, Watson explains, would increase ‘geopolitical fault lines’ on climate policy while creating conflicts for international businesses actively operating in both the American and European markets.
Under the Corporate Sustainability Reporting Directive, businesses are expected to report how issues with sustainability affect their development, position and performance as well as the impact they have on individuals and the environment.
These requirements are expected to affect more and more businesses as time goes by. Next year, large firms in the U.S. with shares listed on EU stock exchanges will be required to present their reports. Towards the end of the decade, more American firms with presence and activities in the European Union will be in-scope of the directive.
Watson explains that businesses impacted by the directive and conflicting American laws may also find it hard to operate in the new environment.
He adds that any slowing or reversal of climate policy in America would probably create bigger gaps between U.S. regulations and those in Europe and regions in Asia where significant progress on climate change has been made while also affecting funding for climate action initiatives.
There may be advantages to Trump’s win though. For instance, Watson expects that America withdrawing from the climate agenda will afford other countries economic opportunities. He posits that investors could direct their attention towards supporting clean technology and renewable projects in other jurisdictions. This would, in turn, attract investments to other countries and help build the capacity and skills to export both expertise and technologies that address the climate crisis.
Entities like First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are likely to keenly follow any policy changes that President Trump announces in order to ascertain what impact the incoming administration could have on their ESG programs.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the ESGWireNews website applicable to all content provided by ESG, wherever published or re-published: https://www.ESGWireNews.com/Disclaimer
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