Trump victory could threaten $1tn in clean energy investments, warns WoodMac

Desk Report May 25, 2024Last Updated: May 25, 2024

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Former U.S. President and Republican presidential candidate Donald Trump attends a campaign rally in Wildwood, New Jersey, U.S., May 11, 2024. REUTERS/Evelyn Hockstein/File Phot

A Trump victory in the November 5 election could endanger $1 trillion in low-carbon energy investments and increase carbon emissions by 1 billion tonnes by 2050, according to Wood Mackenzie. “This election cycle will really influence the pace of energy investment,” said David Brown of Wood Mackenzie’s Energy Transition Research. Trump plans to reverse Biden’s climate policies and may withdraw from the Paris climate agreement again, contrasting sharply with Biden’s focus on climate change and clean energy. Wood Mackenzie projects $7.7 trillion in U.S. energy investments by 2050 under current policies, which could be $1 trillion less if Trump reverses key low-carbon policies.

Read More: A Trump presidency would risk $1 trillion in clean energy investment, WoodMac says