The election of Donald Trump has profoundly altered the political landscape on clean energy and climate in the United States. We have elected a President who has claimed that he will bring back coal and walk away from the Paris Agreement. We will have to see how he actually governs but there are some realities here that restrain his actions. Coal is losing because natural gas and renewables are cheaper in U.S. The Paris Agreement has entered into force, so the U.S. cannot withdraw for several years. But elections matter and we can expect a Trump Administration to chart a very different course on our issues.
Domestically we will need to change some of what we do. The EPA will likely stop its efforts to use its regulatory authority to reduce greenhouse gas emissions. It may also look to roll back existing environmental protections. We will join othe rs in opposing those moves. But we do not need to just be on the defensive. CCAP’s focus has already been shifting to engaging directly with States—which will continue to chart their own course on energy, environment and climate issues—and the private sector, which for sustainability, economic and risk reasons will continue to move towards greener operations and decarbonization.
Internationally we do not expect the rest of the world to slow down on implementing their Paris commitments. China has said as much. And for many countries the kinds of initial actions they are targeting make sense not only as climate solutions but for economic growth and sustainable development reasons as well. CCAP is well positioned to continue to help developing countries move forward with decarbonizing their energy, transportation and waste sectors and acting as their advocate and guide in the international climate discussions and with climate finance sources. We are currently seeking to expand our clean energy NAMA work into a full service platform of technical support for the policy, pipeline and finance interventions needed to accelerate energy transformation in developing countries. A key aspect of this proposal, and of our international work for Germany going forward, will be to engage the private sector.
We are still assessing the challenges that lie ahead, but this much is clear: there remain opportunities both domestically and internationally for CCAP to provide a unique, needed contribution to energy transformation and climate change. We will continue the fight and hope you will continue to actively support us.