Indeed, the world's move toward the green transition is "not US-centric at all", add Baig and Ma. "Lack of US leadership during Trump 1.0, followed by renewed vigour toward [the] green transition under Biden, and now reverting to even greater pushback under Trump 2.0, have left the US as a non-reliable partner in [the] green transition. The developments in China and the European Union (EU) are far more consequential in this context."
The outlook for the green transition remains bright, with or without the US's participation under the Trump administration, says DBS Bank.
Under US President Donald Trump, the US will push for a surge in energy production, particularly oil and gas, while neglecting renewables. But this does not mark a major setback for the green transition, because the US is not the key player in renewables; that role is taken up by China and Europe, write chief economist Taimur Baig and senior economist Ma Tieying in a May 5 note.
