Publications /
Policy Brief

Back
Joe Biden’s climate commitments? What impact can we expect?
January 4, 2021

US President-elect Joe Biden made climate change a priority in his election campaign. Contrary to his predecessor, he announced, among other things, the return to the Paris Accord, a vast infrastructure program for renewable energy and climate transition, and a national target of Zero emissions by 2050 (2035 for power production).

With his election, the climate debate is changing. It is true that no other country had followed the United States in withdrawing from the Paris Accord. But the US is the world’s second largest CO2 emitter (after China) and still plays a crucial economic and political role.
Donald Trump’s posture had altered the momentum of the Paris Accord signed in 2015, just before his election. How far will the resumption of American efforts in favor of the climate will go? Can we bet on the effective implementation of Joe Biden’s program?
There are many obstacles standing in the way of its realization. The President does not have a qualified majority in Congress (60%) and it is not clear whether he will have a simple majority in the Senate. He will have to reckon with the fossil fuel lobby and the consumerist habits of the population. In addition, the cost of the proposed measures is a challenge in itself, as with any ambitious program.

The implementation of this program will depend, to a large extent, on the support it receives from society and the electorate, as well as on the strategic coherence of the plan itself.

RELATED CONTENT

  • June 16, 2021
    It is now an established fact that investment in infrastructure is considered as a driver for economic growth. It acts through different channels. In the short run, the construction phase of any projects often implies the direct creation of new jobs and an indirect creation of on periph...
  • Authors
    May 31, 2021
    China is the world's largest exporter of goods. It is also, by any plausible criterion, a developing country. China's dual status needs to be better reflected in Chinese policies - recognizing its global responsibilities -- and in those of the Western powers - recognizing China's limitations. Across three important agendas - macroeconomics, development assistance, and climate - important differences between China and the West remain, yet none of these issues appears intractable. ...
  • April 28, 2021
    There are three major reasons for central banks to engage on climate change issues. The first is the set of – physical and transition - risks to financial stability potentially brought about by natural disasters and trends derived from climate change. Second, the potential impact of cli...
  • Authors
    April 27, 2021
    With a population of approximately 200 million, Nigeria accounts for about half of West Africa's population and has one of the largest concentrations of young people in the world. Endowed with abundant natural resources, Nigeria is one of Africa's largest oil exporters, with an estimated 37 billion barrels of proven crude oil reserves, the majority of which are found in the Niger River Delta and offshore in the Bight of Benin, the Gulf of Guinea and the Bight of Bonny. Nigeria also ...
  • January 4, 2021
    Le Président américain élu, Joe Biden, a fait du climat une priorité de sa campagne électorale. Prenant le contrepied de son prédécesseur, il a notamment annoncé le retour dans l’Accord de Paris, un vaste programme d’infrastructures en faveur des énergies renouvelables et de la transition climatique ainsi qu’un objectif national de Zéro émission pour 2050 (2035 pour la production d’électricité). Avec son élection, la donne change dans le débat climatique. Certes, aucun autre pays n ...
  • January 4, 2021
    US President-elect Joe Biden made climate change a priority in his election campaign. Contrary to his predecessor, he announced, among other things, the return to the Paris Accord, a vast infrastructure program for renewable energy and climate transition, and a national target of Zero emissions by 2050 (2035 for power production). With his election, the climate debate is changing. It is true that no other country had followed the United States in withdrawing from the Paris Accord. ...
  • Authors
    Hanae Bezad
    Maximo Plo Seco
    Roger Hilton
    December 10, 2020
    The Atlantic basin faces considerable challenges on multiple fronts. Financial and economic struggles, coupled with political shifts and social turmoil, are reshaping the region’s geopolitical landscape. Unemployment, poverty, violence, migration, extremism, climate change and other problems are on the rise and the need to tackle them effectively is pressing. To find adequate solutions to these challenges, it is crucial to create inclusive discussions between the North and the Sout ...
  • Authors
    December 7, 2020
    The pandemic is accelerating history, in the sense that it is leading to the speeding up of some recent trends. In the case of globalization, the pandemic will not reverse it, but it will reshape it. Here we take a bird’s eye view of global trade during the pandemic, relate it to previous trends, and guess how global value chain managers and government trade policymakers are likely to react. A Bird’s Eye View of Global Trade during the Pandemic World trade took a deep dive during ...
  • Authors
    Patricio Aroca
    Pilar Jano
    Ademir Rocha
    Bruno Pimenta
    November 23, 2020
    Short-term climate conditions may affect crop yields and vintage quality and, as a consequence, wine prices and vineyards’ earnings. In this paper, we use a Computable General Equilibrium (CGE) model for Chile, which incorporates very detailed information about the value chain of the wine sector in the country. Using information for the 2015-2016 harvest, we calibrate climate variability shocks associated with a “bad year” for the wine industry in Chile, when premature rains occurre ...