COP27 outlook falls as Russia, China shun climate talks with U.S.

Photo of Trey Thoelcke
By Trey Thoelcke Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
COP27 outlook falls as Russia, China shun climate talks with U.S.

© ispyfriend / E+ via Getty Images

By David Callaway, Callaway Climate Insights

Today in Callaway Climate Insights:
– China’s suspension of climate talks with the U.S. was inevitable after Pelosi’s Taiwan visit. What’s next?
– How Sen. Joe Manchin threw a wrench into the climate plan’s electric vehicle strategy
– Biden’s climate bill opens vast new areas for off-shore wind development. Here’s where.
– Solar power driving renewable energy to a new record in 2022

It was inevitable that China’s temper tantrum over Nancy Pelosi’s Taiwan visit would include suspension of climate talks with the U.S. And while it will likely be temporary, coming this close to the United Nations COP27 climate summit in three months means that two out of four of the world’s largest polluters — China and Russia — won’t be at the table with U.S. counterparts.

The suspension of the talks last week — as we noted, one of several strings China will pull to make its displeasure with the Biden Administration known — blows a hole in the diplomatic concept of “compartmentalization” touted by U.S. climate czar John Kerry as a way to place global warming outside of the usual geopolitical negotiations between nations.

It threatens to weaken the buildup to COP27 in Egypt to the point where there is little hope of meaningful progress in Sharm El-Sheikh around issues such as distribution of funds from wealthy polluters to small countries bearing the brunt of global warming. As Kerry rightly pointed out, China’s suspension of talks doesn’t punish the U.S., it punishes the more vulnerable countries.

Russia’s step back from international talks on things like the space station and climate change after its invasion of Ukraine, and China’s provocative acts toward Taiwan, portend a world where climate progress remains in the back seat to territorial disputes and cold war politics. More of a space-race competition than a partnership for the good of the planet.

Despite the progress made by the Biden team in getting the climate bill passed over the weekend, the drawing of lines between East and West that we’ve seen so far in 2022 remains the biggest threat to any progress. Which makes it the obvious first card to play in any dispute, as self-destructive as that is.

More insights below . . . .

Subscribe to Callaway Climate Insights to keep reading this post and get 7 days of free access to the full post archives.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618