How Trump could undo portions of Biden’s climate legacy
Biden's most recent climate initiatives are all but certain to be short-lived, mostly thanks to an obscure law that tends to come into play every four years.
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As climate change continues to unfold around the globe, environmental, social, and governance (ESG) concerns are increasingly driving investment decisions. This is especially true for investors in the oil and gas sector, which accounts for an outsized share of global greenhouse gas (GHG) emissions.
As governments and companies consider options to decarbonize their energy systems, addressing greenhouse gas emissions from natural gas and liquified natural gas (LNG) will inevitably become a greater concern.
The Biden administration’s move to bring the United States back into the Paris Agreement and lower greenhouse gas emissions to address climate change will, if carried through, lead to a reduction in fossil fuel consumption.
In August 2020, the Trump Administration finalized plans to roll back regulations on oil and gas industry emissions of methane from new and modified infrastructure.