Business tycoon Donald Trump’s election win is unlikely to hamper progress on climate policy, according to a new report.
While the Trump administration could slow global progress on climate policy, it is not expected to scuttle it.
The findings from the Economist Intelligence Unit come amid recent years in which the US government has been seen as a “pacesetter” in the transition to a low carbon economy.
Peter Kiernan, lead energy analyst for the Economist Intelligence Unit, said:”It will be difficult for a Trump administration to disentangle the US from the Paris Agreement now that it has already come into force, but indifference to addressing climate change at the top policy level of the world’s second-largest emitter will still be a setback.”
Faster growth is forecast in renewable energy consumption compared to fossil fuels next year.
Meanwhile, the report estimates Brent prices will average $56.50/bbl.
Kiernan added:”The capacity of US shale drillers to reverse recent output falls will test OPEC’s ability to push prices higher.”
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