World Bank scraps climate financing after facing pressure from Trump
The 45% target was set following the United Nations’ climate conference in 2023, pledging the funding to climate-related projects by 2025.
President Biden’s first days in office mark a sharp shift in US climate and energy policy, with a slew of executive orders reversing several Trump actions and directing federal agencies to pursue a wide range of new regulations in what’s been framed as “a whole-of-government approach” to the climate crisis. Combined with Democrats now in control of both houses of Congress by the slimmest of majorities, the raft of executive orders raises the question of how climate policy will advance going forward. To what extent will it advance through legislation versus executive action? To what extent will legislative action be on party lines? Will there be opportunities for bipartisan cooperation on climate?Â
In this edition of Columbia Energy Exchange, host Jason Bordoff is joined by Rich Powell to discuss what to expect in climate policy moving forward, particularly on the Republican side of the aisle. Â
Rich Powell is the Executive Director of ClearPath and ClearPath Action, the DC-based organizations developing and advancing conservative policies that accelerate clean energy innovation. Rich frequently testifies before Congress on climate change and energy innovation. He served as a member of the 2019 Advisory Committee to the Export Import Bank of the United States, and is on the Atlantic Council’s Global Energy Center’s Advisory Group. Previously, Rich was with McKinsey & Company in the Energy and Sustainability practices. He holds a B.A. from Harvard College in Environmental Science and Public Policy, and a J.D. from New York University.
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