Climate work has become less than a priority around the world. Trump does not help

Larry Fink sends an annual letter to the heads of all the companies he invests, and a few years ago it was a major topic that is carbon removal.

As the CEO of Blackrock, the world’s largest asset manager, his mission has the influence of investors and corporate leaders worldwide.

His next message will come soon, and he hints that there will be less focus on the environment and reduce emissions.

“I still believe in that, but I also warn that any carbon removal technology is currently very much,” Fink said, while talking on the stage in Houston as part of Cereweek, a global energy conference.

Fink is not alone in making this shift. The focus has faded on climate work and the transition to cleaner energy in recent years, as the focus is more on energy security and the ability to withstand costs.

This was before Donald Trump returned to the White House.

Since then, the American President Pulled The country is from the Paris Climate Agreement and the Climate Granting Climate. The law to reduce inflation, Clean energy program It was presented by former President Joe Biden, now in Krosershers.

In addition, Trump issued an order to cancel Biden’s ban on oil and gas drilling in most American coastal waters, and also has it Suspension New or renewable rental contracts for external and land wind projects.

In general, hundreds of billions of dollars can be affected in the field of clean technology and low -emissions, and the effects of ripples can be felt all over the world.

“In all fields, we have to think about strength and energy in a pragmatic way,” Fink said.

A few years ago, the climate was a major topic for the annual Cereweek event as the leaders of companies and the government presented their environmental progress and the latest investments.

This year, noticeably absent from the conversation. Instead, the lights on the high global demand for all types of energy, especially oil and natural gas.

“Side effect”

While on the stage on Monday, Trump’s Energy Minister Chris Wright launched himself “a realistic climate.”

“The Trump administration will deal with climate change for what it is, which is a global physical phenomenon that is the side effects of building the modern world,” he said. “Everything in life involves bodies. Everything.”

Increasingly, experts say Transmission It will be more difficult, expensive and complex than expected.

The transformation by some energy companies away from carbon removal efforts.

Five years ago, BP has set some of the most ambitious goals for any large company from OilPatch, including 40 percent reduction in oil and gas production by 2030 and increased investment dramatically in renewable energy sources.

Now, this plan has been presented from the window.

CEO Murray Osinclos said that BP is working to convert investment from renewable energy to oil and gas production as part of the company’s “reset”.

He said, “The world has changed a lot.” “When I visited governments all over the world, it became clear that the priorities in all the countries we are doing were really reasonable energy and reliable energy.”

Highlighting Trump

Martha Hall Vendley, head of the College of Public Policy at Calgary University, said the priority of the climate decrease is noticeable. She is a former liberal deputy and recently played the role of a chief climate employee in Suncor Energy.

“I am not pleased with. Climate change is a problem,” she said during an interview in Calgary.

“The basic change was the election of Donald Trump,” said Hall Vendillay, noting his contempt for environmental policy, the dismantling of green subsidies, the promotion of more oil drilling, the questioning of climate change and Russia align on the world stage.

“What are the priorities in such a situation?” She said. Unfortunately, it is not an atmosphere. “

With Trump’s return to the White House, Dan Grossman of the Environmental Defense Fund was expecting a cheerful atmosphere between the Cereweek oil and gas industry in Texas.

Instead, companies say they are still committed to climatic efforts.

“Certainly we don’t see much conflicts and food battles,” Grossman said in an interview with CBC News in Houston.

“We have made a lot of progress worldwide on the issue of climate change and mithan’s relief, and this will not only dissipate it,” he said. “Perhaps the people in his position may have changed, but the flag behind climate change has not changed.”

Climate

It is expected that 2025 to the first time ever will come that spending and investment in clean energy technology replaces oil and gas investment on the source, according to the S & P Global Commodity Insights

“There are companies that decide that the climate is less than a priority, that sustainability is less than a priority and that they want to focus more on the costs and short -term returns,” said Roman Kamarrachuk, head of the S&P climate market, in an interview with CBC News in Houston.

At the same time, there will be other companies that the climate is a way to practice their capabilities and earn money in this sense as well. “

In the United States, many government governments and local governments continue their environmental policies to help address climate change.

For companies, they often make large investment decisions from the logical contract or two decades in the future, after a long period of Trump president.

“They see the way the world is going.” “I think they are approaching energy with realism and understanding that it will not happen overnight.”

Fink, head of the huge money manager, is still optimistic about the place where the world is heading and the speed of technology change in many aspects of the energy sector.

However, inflation is the highest mind for him at the present time, and carbon removal efforts are always meaningless.

“Everyone talks about this opportunity with hydrogen. Well, we can have green hydrogen and blue hydrogen, but is anyone ready to pay the cost?”