Energy

The Project on Europe hosted a post-COP 26 discussion about how European integration of a climate change agenda is now at the very center of its political project. Europe is exiting almost two decades of existential crisis during which it lost its narrative: it no longer had a compelling story to tell. It has now found it once again. Today, a green Europe represents a normative vision, an economic growth strategy, as well as a route to a political Union: it promises to be the new narrative to revive the European project. Precisely because it is so existential for the future of Europe, getting both the story and the practice right is crucial. This is a tall order.

Both sides of the Atlantic are converging in their assessment of the challenges China poses to transatlantic prosperity and democracy. The U.S. and Europe must now build on this convergence to advance a common strategy toward China. Only together can the U.S. and Europe, alongside other democratic nations, maintain the necessary leverage in trade, technology and multilateral engagement to hold China accountable to a set of standards that protects democratic societies and contributes to global stability.

To develop a stronger transatlantic approach toward China, the Biden administration must work to rebuild trust in the transatlantic relationship and recommit to multilateral alliances and institutions abandoned by President Trump. Europe for its part must unite and take action where it sees China exploiting its critical industries and infringing on its values. A common position on China at the EU–level and across several influential EU member states is critical to making transatlantic cooperation on China feasible.

The Trump administration’s short-sighted geo-economic crackdown on the main international oil and gas producers—be it Saudi Arabia, Russia, or Iran—not only came at the expense of economic interests of allied countries in Europe, but also did long-term harm to the United States itself, helping its global rival China. Sooner rather than later—and a new administration offers this opportunity—U.S. policymakers will have to address businesses’ growing interests in (green) investment strategies and the rapidly intensifying geopolitical rivalry with China. Transatlantic cooperation in the development of sustainable energy sources and technologies will be instrumental. A “Transatlantic New Green Deal” would allow allies to generate much-needed new economic growth after the COVID-19-related economic contraction and improve the energy security of consumer countries, curb the effect of greenhouse gases and realign the balance of power in world energy markets.

John P. Holdren, science advisor to the Obama administration, lists 6 things he thinks Joe Biden would do on climate change.