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The new US climate trend opens up old flaws in Europe

Biden officials set a return to the US for national leadership this week with a willingness to do so half the air releases airs by 2030. But this move also made mistakes in the past.

The weather forecast made the US more similar to the EU, which this week published its policy of European law causing the bloc to reduce emissions by at least 55% over a decade, as opposed to 1990. The US target is set by 2005 standards.

Although popular in Europe, the US back-to-back era of masks is approaching between two financial institutions on how to beat the so-called net zero competition.

“The American people have ideas based on modern technology,” French Environment Minister Barbara Pompili told FT this week. “It’s fun to make hydrogen, as we make it, and to capture carbon. But I think we have more in France and Europe. We are making progress because we are also seeing how we live. ”

EU officials are quick to point out what they see as gaps in the US approach that relies heavily on new green technologies as well as secretive and financial institutions to eradicate greenhouse gases.

“I strongly believe. I believe we have the potential, ”said US President John Kerry’s envoy on Thursday, following the first day of the US summit, which led leaders from 40 countries including Xi Jinping from China and Vladimir Putin from Russia, as well as new pledges. climate agents from Japan, Canada and South Korea.

Mr Kerry said he hoped the US would continue its 2030 goal behind modern technologies in areas such as hydrogen power, batteries, and carbon dioxide emissions.

“We are a lunar eclipse. We did not know how we would get there when President Kennedy announced the intention, but we did it, ”said the former secretary general.

Fraudsters and Fraudulent Rebellion oppose Joe Biden’s idea of ​​reducing U.S. gas by mid-2030, which he considers ‘too small, too late,’ near the White House Thursday © Jim Lo Scalzo / EPA-EFE / Shutterstock

EU officials have agreed that the US could launch more investments in green technologies compared to 27 countries, where funding is guaranteed nationwide.

But the US “techno-hope” is in stark contrast to the EU’s broader approach that combines the integration of its management with the cost of electricity generation, combined with a larger carbon pricing approach, encouraging consumers to change the way they need to reduce emissions.

The EU used Trump’s years to establish itself as the world’s largest power. Climate law in Brussels sets a final target for emissions by 2050 – which, if implemented, could make the EU the world’s first contractor to reach its peak.

In the coming months, Brussels will adopt green rules to make the bloc “achieve 55%” by 2030. These laws will cover everything from automotive goals and home renovations to electricity, as part of the European Green Deal which is hailed as an industrial initiative to revive post-epidemic economy. .

Sandrine Dixson-Declève, vice-president of the Club of Rome, says the EU’s climate change approach is a “connecting mechanism” that seeks to integrate almost all sectors of the economy. “The US is always driven by the market – not just Biden’s executives.

U.S. analysts agree that the United States is still embroiled in climate change, although Biden’s analysts insist that technological advances ensure that more land is lost during Trump’s tenure.

“The big difference is that most European countries have enacted climate change laws, and this gives them more power to formulate and implement policies that are in line with international standards,” said Kelly Sims Gallagher, former Obama White House chief of staff who co-sponsored the US China. “The US does not have a comprehensive regulation and has instead followed a process of communication with a few regulators.”

“[The Biden Administration] perhaps underestimating the skepticism that some countries feel the United States may reintroduce its policies at home. ”

One of the major differences between the two regimes is that Europe is receiving carbon prices through a market-driven Emissions Trading Scheme (ETS) that is at the core of European thinking.

Joe Biden, left, commenting next to John Kerry at the East Season Leaders’ Meeting at the White House © Anna Moneymaker / Pool / EPA-EFE / Shutterstock

ETS was established in the 2000s to encourage the more affluent industries to convert to energy by forcing them to buy carbon offsets to pay for their gas. The cap-and-business strategy needs to continue to grow to include new sectors such as shipping, car manufacturers and housing, and to force further changes in European business models. In anticipation of this, investors saved carbon prices for new items this week at more than 40 euros per tonne.

But such a market path has won aid to the federal government in the US, although a small carbon trading system was established in California, and, to a lesser extent, in northeastern states such as New York and Maryland.

“If Americans don’t have carbon prices, the only way is carbon taxes and suicide is politics,” said an EC official.

Contrary to US claims that Europe is based on the rule of law, EU policymakers say the ETS has proven to be a viable solution to the market that has hampered control and stability in areas such as electricity.

“We were puzzled as to why the United States does not agree with it and we do not think they really thought so,” he added.

A € 1 per ton line chart shows rising EU prices

Tensions between the EU-US and the risk of carbon prices are peaking at a critical juncture: Brussels’ carbon boundary tariffs designed to reverse excise taxes from countries without similar carbon prices.

Kerry rejected European attempts to get the US involved in the process, and warned that it should be used as a “last resort”. The agency’s mission will be unveiled in June.

Climate change philosophies could still be given a political face in the US and the EU. Although there were divisions between the 27 EU member states in the field of energy, all of them signed up to the target and demanded decarbonisation.

In contrast, environmental issues in the US could pose a political threat to the party, with the help of Democrats and dissenting Republicans, says Dixson-Declève of the Club of Rome.

Jeff Colgan, an assistant professor at Climate Change at Brown University, said Europe “should not expect” that the US would follow a mix of policies that took place in the UK and the EU. “The US has different politics and Biden needs to pursue the best possible technology in order to find the best climate.”

Additional reports of James Politi in Washington

Follow @ftclimate on Instagram

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Where climate change meets business, markets and politics. See the FT publication here

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