What the Show Me the Money climate summit tells us about the new Trump era – POLITICO

China also regularly resists calls for transparency regarding its pollution reduction measures, just as it does on climate finance.

China is a little complex, but at the same time we see leadership from China, said Harjeet Singh, director of global engagement at the Fossil Fuel Non-Proliferation Treaty Initiative, an environmental group.

Trump's rise will likely give China a larger share of the global market, clean energy analysts say. Ending consumer incentives to buy electric cars, which Republicans have targeted, as well as subsidies for manufacturing batteries, solar panels and wind turbines, would dampen America's nascent efforts to compete in areas dominated by China.

China has also led a backlash against efforts by the United States and other wealthy countries to impose industrial policies that would weaken Beijing's grip on key raw materials and technologies for green energy. Among other initiatives, he has prompted emerging economies to criticize policies such as the US Inflation Reduction Act and carbon tariffs at EU borders, arguing that they make the greening of their savings more costly.

At COP29, Trump's imminent return to power gave the United States less leverage to push Beijing to make mandatory contributions toward financial targets. China, the world's second-largest economy, has insisted on a 1992 U.N. ruling that it was poor enough to avoid contributing to those efforts, even though the final deal allows countries that have since become richer to make commitments. if they wish.

China, however, sought to disarm critics by declaring, for the first time, the extent to which it has financed other countries through its vaunted South-South cooperation initiative. The total stands at $25 billion since 2016, Beijing said.

Zia Weise contributed to this report.

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