Investing

Mission Accomplished? Biden Takes Climate Victory Lap in Europe

David Callaway

Published: July 13, 2023 4:03 am

In today’s edition:

• Biden’s European tour this week comes as U.S. emissions fall for first time on his watch
• Republicans take war on ‘woke’ ESG to the front on U.S. military spending
• Tragic side effects of extreme weather
• California’s reappearing lake is disappearing again
• Canada’s wildfire crisis like you’ve never seen it before

Plus: War on ESG spreads to military spending

President Joe Biden had reason to feel good about his climate talks at Windsor Palace this week with King Charles III. For the first time in his presidency, U.S. emissions have fallen over a prolonged period.

The 5% decline in emissions in the first four months of this year was more likely caused by a warm U.S. winter than anything else, according to Carbon Monitor, which said U.S. emissions were more than 100 million tons less during the period. But at a time when China and India emissions are still rising, the fact that U.S. reductions could offset gains elsewhere and contribute to a global pollution plateau is something Biden will make the most of in his talks and at NATO talks later this week.

Less so King Charles, who presided over a 1.1% gain in emissions in the UK in the period, as the Tory government led by Rishi Sunak has largely abandoned any sort of climate leadership since he became prime minister.

It also comes as UK insurance companies are facing the highest number of claims in almost 20 years from buildings in London and outside that are cracking in a second consecutive dry summer with unusual drought.

Perhaps Biden will convince the environmental monarch to become active in climate circles again, where he is sorely needed, despite English tradition that requires the king or queen to avoid politics. As global warming’s tipping points start to take hold this summer, the sooner climate action is taken out of politics the better.

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