Lowering emissions and renewable energy already had a bit of momentum as big business had already started to get involved in the past 5 years.
When you have BHP getting out of coal and the oil majors buying into wind, solar and ev recharging networks you know that it is getting past the green washing stage.
However, the US getting on board is about to supercharge things imo. There's a lot of great science and technology that comes out of the states. The home of companies like Tesla that get things done regardless of the opposition. That's one of the great things about the US. Now, they have the both the federal and state governments firmly behind them. The Wall Street boys will jump on board which will make a difference also.
I think the world already had momentum prior to Trump getting in although it lost a bit during his presidency. Now that he has gone there is now holding the world back. Everyone, even China is on board one way or another and I think it will become a bit of a race between China and the US.
There were a bunch of other things that Trump wound back with regard to the environment that Biden is fixing as well. I believe that reversing those things will change sentiment generally in the US.
I'm not sure what incentives Biden will be offering business but he is already talking big. Electrifying the government fleet and promoting employment will make sure the money goes where it needs to . Renewables already employ more people in the US than coal so more jobs is a significant factor regardless of one's climate change opinions. Knocking back things like the Keystone Pipeline sends the message to industry that instead of hedging their bets between fossil and renewables, they have now decided to go full on renewables.
Coincidentally, storage technology has probably nearly caught up which is the absolute key to making renewable energy work.
The irony in Australia is that Labor has just removed Mark Butler just as the US has changed tack. Talk about a bad call.
Watch closely how Morrison starts to spin the renewable conversation between now and the next federal election. He's already trying to spin it by saying that they are no longer claiming the bogus idea of Kyoto credits. Only because he doesn't need to anymore because we are performing better than anyone expected. Nothing to do with his government's actions. The next UN climate change conference is on in Glasgow in November. Australia was embarrassingly not given a speaking slot at the last important climate ambition summit last year. I expect Scott from marketing to make some changes in the interim so that he can get back in the tent.
I'd guess that he'll be getting a call from Biden before too long as well.
If Morrison is sneaky enough, he'll get the upper hand on Labor on this issue.
