Environment & Climate Change

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.

This policy brief emphasizes that the European Green Deal's effectiveness in a post Covid-19 world will require the involvement of strategic partners, especially the US. In the context of a potential US withdrawal from the Paris Agreement and the consequential vacuum, it will be even more important to engage the US in implementing the GD. In light of divergence between the US and the EU during past climate negotiations (e.g. Kyoto, Copenhagen, and Paris), we suggest a gradual approach to US engagement with GD initiatives and objectives.

As part of the Project on Europe and the Transatlantic Relationship’s (PETR) 2019 European Election event series, Muriel Rouyer, Adjunct Professor of Public Policy and Robert N. Stavins, A.J. Meyer Professor of Energy & Economic Development, discussed transatlantic advances in environmental policy, as well as the role the issue of climate change would play in the EU parliament vote taking place on May 23-26, in a conversation with Cathryn Clüver Ashbrook, Executive Director of PETR on April 30th, 2019.