At the UN, President Trump called climate change a "con job" and a "scam." But here's the thing, says Eurasia Group's Franck Gbaguidi, it doesn't matter what you call it, it matters what you do about it. And so far, Trump has changed how we talk about climate change, but not what's being done about it.
President Trump has made it a mission to roll back the clock on climate policy, like withdrawing again from the Paris Climate Agreement, doubling down on fossil fuels or demonizing offshore wind. But really, when it comes to action, that's pretty much about it.
What he has done is changed the way sustainability advocates, world leaders, or even large corporations, are talking about climate change. So now they no longer talk about energy transition, but they talk about energy security. Before you couldn't talk about nuclear power here in New York during climate week because Fukushima and many other incidents, now there's an excitement that we've never seen before.
France, Egypt, South Korea, all these countries are ramping up efforts and they're doing so under the framework of energy security. Take climate change. We no longer talk about climate change per se, but we focus on water security. That's because people can deny that climate change exists, but they won't deny droughts, they won't deny floods. Take the US and Mexico and all of the water access issues at the border. Take China and India when it comes to dam constructions and all of the controversies that come with it. Same thing with Greece and Bulgaria and their water agreement. Water stress has become a major issue, and work is being done both on the policy side and on the investment side to ensure that we have the right technology to address the problem.
Final example, emission reductions. We no longer talk about it now we focus on adaptation. So you're not hearing as much about those big, shiny targets to reduce emissions. That era is pretty much over and done with. Most countries are no longer announcing ambitious targets, they're focusing on adaptation. Take India, for instance, where outdoor workers now, for a big part of the year, can only work until 10:00 a.m before it gets too hot. So it's about addressing the world that we live in today rather than preventing one we don't want to live in tomorrow.
So why does it matter? If you watch the news, you may think that we are in a "stop the clock" moment. Big countries are pulling out of climate accords. They're no longer prioritizing the topic. I mean, here in New York at the UN, artificial intelligence and many other hot button issues have basically pushed climate to the back burner. But that is in fact hot topic. There is still plenty being done. So yes, Trump will keep calling climate change scam. But that won't stop what companies, investors, and world leaders are doing to address it.