Support for the green movement may no longer be unanimous, particularly in the United States, but a full-scale reversal of the trend remains unlikely, especially in the EU and China, where leaders have pledged strong support for sustainability initiatives. 2024: A year of division In 2024, several leading U.S. financial institutions withdrew from Climate Action 100+, a global coalition of fund managers advocating for big listed companies to address climate issues. This withdrawal reflects a notable shift on Wall Street, where political division and rising financial pressures have prompted a rollback of previous environmental commitments. These actions predated Donald Trump’s victory in the November presidential election, but his win has amplified speculation about the U.S. reversing its stance on green initiatives under the new administration beginning January 20, 2025. Observers anticipate that the Trump administration may withdraw from the Paris Agreement, cut or eliminate clean energy subsidies provided under the Inflation Reduction Act, and scale back other climate-related policies. The U.S. Securities and Exchange Commission (SEC) might reverse regulations requiring public companies to disclose greenhouse gas emissions and climate-related risks. In 2024, the “green protest” movement emerged as a pushback against the pervasive emphasis on green and sustainable initiatives. This […]
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