Berliner Boersenzeitung - At COP27 climate talks, US midterms make waves

EUR -
AED 4.228057
AFN 74.832966
ALL 94.116967
AMD 419.396258
AOA 1056.871121
ARS 1714.164117
AUD 1.639071
AWG 2.073735
AZN 1.953699
BAM 1.954799
BBD 2.309418
BDT 141.597523
BHD 0.43236
BIF 3404.80585
BMD 1.151276
BND 1.477135
BOB 13.501854
BRL 5.847789
BSD 1.146663
BTN 109.658728
BWP 15.6683
BYN 3.355337
BYR 22565.003974
BZD 2.306119
CAD 1.613922
CDF 2619.152068
CHF 0.928739
CLF 0.027074
CLP 1065.562905
CNY 7.777155
CNH 7.766615
COP 3596.216919
CRC 521.310524
CUC 1.151276
CUP 30.508806
CVE 110.21146
CZK 24.226408
DJF 204.186618
DKK 7.475429
DOP 66.732944
DZD 152.795666
EGP 58.796453
ERN 17.269136
ETB 185.073431
FJD 2.551682
FKP 0.866484
GBP 0.85591
GEL 3.010591
GGP 0.866484
GHS 13.398909
GIP 0.866484
GMD 85.194628
GNF 10065.105
GTQ 8.749749
GYD 239.903037
HKD 9.029703
HNL 30.91213
HRK 7.535442
HTG 149.921542
HUF 362.564336
IDR 20804.703409
ILS 3.528614
IMP 0.866484
INR 109.868888
IQD 1508.171184
IRR 1583004.104973
ISK 142.608344
JEP 0.866484
JMD 181.349299
JOD 0.816278
JPY 184.867828
KES 148.940611
KGS 100.678756
KHR 4651.154164
KMF 495.62215
KRW 1654.325489
KWD 0.356723
KYD 0.955553
KZT 543.929066
LAK 26110.932968
LBP 102679.699667
LKR 385.144426
LRD 207.559168
LSL 19.123124
LTL 3.399418
LVL 0.696396
LYD 7.338925
MAD 10.804146
MDL 20.192261
MGA 4953.362803
MKD 61.493524
MMK 2417.498572
MNT 4140.245065
MOP 9.264655
MRU 46.177591
MUR 54.363099
MVR 17.798526
MWK 1998.61445
MXN 19.969574
MYR 4.70596
MZN 73.578298
NAD 19.123083
NGN 1563.904192
NIO 42.195287
NOK 10.986632
NPR 175.44158
NZD 1.961066
OMR 0.44266
PAB 1.146713
PEN 3.901767
PGK 5.059037
PHP 70.650909
PKR 318.450169
PLN 4.307954
PYG 6853.194519
QAR 4.195481
RON 5.244863
RSD 117.40941
RUB 91.784718
RWF 1687.862754
SAR 4.296176
SBD 9.30358
SCR 15.634547
SDG 690.76513
SEK 10.991747
SGD 1.478486
SLE 28.438232
SOS 655.336101
SRD 43.454895
STD 23829.082842
STN 24.485659
SVC 10.033254
SZL 19.018439
THB 38.483114
TJS 10.589955
TMT 4.040978
TND 3.395684
TRY 54.708854
TTD 7.782408
TWD 37.288207
TZS 3048.00018
UAH 51.156394
UGX 4294.727111
USD 1.151276
UYU 46.127591
UZS 13765.834309
VES 858.502152
VND 30237.105325
VUV 137.613459
WST 3.168914
XAF 655.592959
XAG 0.019704
XAU 0.000282
XCD 3.11138
XCG 2.066517
XDR 0.815347
XOF 659.68082
XPF 119.331742
YER 274.351945
ZAR 19.01394
ZMK 10362.859584
ZMW 21.41311
ZWL 370.71031
  • RBGPF

    0.0000

    69.21

    0%

  • CMSD

    -0.0200

    22.02

    -0.09%

  • CMSC

    0.1200

    21.81

    +0.55%

  • GSK

    -1.1500

    52.07

    -2.21%

  • BCE

    -0.6300

    21.7

    -2.9%

  • RYCEF

    1.3900

    19.86

    +7%

  • BCC

    -2.3000

    75.38

    -3.05%

  • NGG

    1.5100

    80.39

    +1.88%

  • BTI

    -1.3800

    61.69

    -2.24%

  • RIO

    3.5200

    97.18

    +3.62%

  • JRI

    0.1100

    12.87

    +0.85%

  • VOD

    0.0100

    16.14

    +0.06%

  • AZN

    -1.9600

    171.34

    -1.14%

  • RELX

    -1.6200

    36.61

    -4.43%

  • BP

    0.9000

    44.22

    +2.04%

At COP27 climate talks, US midterms make waves
At COP27 climate talks, US midterms make waves / Photo: Mandel NGAN - AFP/File

At COP27 climate talks, US midterms make waves

The US midterms made waves Wednesday at a UN climate summit on the shores of Egypt, with activists urging President Joe Biden to take bolder action against global warming regardless of the result.

Text size:

Campaigners were optimistic that Biden's $370 billion green energy legislation would not be thwarted even if Republicans take one or both houses of Congress.

But with Biden due to join the UN's COP27 climate conference in the Red Sea resort of Sharm el-Sheikh on Friday, they also had a message for the US leader.

"I think it would be a catastrophic mistake if President Biden does not seize this literally once-in-the-universe opportunity now to be the climate president that the world needs him to be," said Jean Su, energy justice programme director at the Center for Biological Diversity, a US environmental group.

"We are literally at the tipping point for an unlivable world," she said at a news conference, urging Biden to phase out fossil fuel production and use his presidential powers to declare a climate emergency.

But Su and others were also pleased to see candidates that campaigned on climate change gain seats in Congress.

"A lot of climate champions did win across states, governorships, legislatures, and more," said Frances Colon, climate policy director at the Center for American Progress.

"What we expect is that they will turn these winds into more climate action," she said.

- Split Congress? -

With a majority of races called, Biden's Democrats appeared to have countered Republican hopes of riding a "red wave" to take full control of Congress.

While Republicans seem on track to reclaim the House of Representatives, Democrats appear to have a decent chance of keeping their Senate majority.

"Republicans really ran on platforms of inflation and increased gas prices," Colon said.

"Being propped up by fossil fuels, election denying, and climate denying really didn't work out so well for them."

Republicans will not be able to reverse the Inflation Reduction Act, Biden's flagship programme to green the US economy.

"What you might see from them is that they try to slow down things, try to present some obstacles to what the Biden administration will do for the next two years," Colon said.

But activists said a Republican victory in the House would endanger Biden's pledge to contribute $11.4 billion to a $100 billion per year fund from rich countries to help developing ones green their economies.

Colon said Democrats need to pass the legislation before the new Congress is sworn in January.

- Trump shadow -

After the new Congress is known, all eyes will quickly turn to the 2024 presidential election, with Donald Trump hinting that he will announce his intentions on November 15.

Climate activists fear a Trump comeback. The former US leader pulled the United States out of the Paris Agreement in 2017 -- a move that Biden reversed as soon as he took office.

"We know that there's a huge climate denier that may announce (his candidacy) pretty soon," said Ramon Cruz, president of the Sierra Club, a major US non-government organisation.

"We knew how difficult that was not only for the US, but for the whole world," he said.

The Sierra Club, which supported candidates in this year's election, already has 2024 on the "horizon", he said.

But one campaigner had a different take on the impact of US elections on the climate agenda.

"The US has acted in bad faith irrespective of elections," said Harjeet Singh, senior adviser at Climate Action Network.

Singh said that, for years, the United States has blocked attempts to create a "loss and damage" mechanism through which rich polluters would compensate developing countries for the destruction caused by climate-induced disasters.

The United States has dragged their feet on the issue, but loss and damage has taken centre stage at COP27 as it was finally put on the official agenda following intense negotiations.

"The US has been an obstructionist, always," Singh said.

"Please look at the US role beyond what happens in this election. It is for the US to change course and be more constructive in its approach."

(L.Kaufmann--BBZ)