Response of Follow This to the election of Trump
With Trump’s pro-fossil fuel agenda back in play, it’s up to investors to push Big Oil toward a sustainable future. The climate crisis can’t wait.
With Trump in the White House driving a pro-fossil fuel agenda, the climate crisis intensifies. The Paris Climate Agreement stands on shaky ground, and the fight against climate change grows ever more precarious.
Trump promises to expand oil, gas, and coal production, rolling back regulations and targeting renewable initiatives. His stance on climate change, seen as a “hoax,” weakens global efforts like the Paris Agreement, jeopardizing climate goals.
Throughout his campaign, Trump pledged to roll back climate regulations; dismantle the Inflation Reduction Act, a cornerstone of recent environmental policy; and prioritize the fossil fuel industry, making clear his limited enthusiasm for renewable energy sources, which he views with some skepticism, reserving interest primarily for nuclear power.
Institutional investors are now seen as the final safeguard against climate change, especially given Trump’s pro-fossil fuel stance and his plan to fire SEC chair Gary Gensler, which could reduce corporate climate accountability.
Investors, particularly those in Big Oil, face a duty to protect the economy from climate risks like extreme weather, which threatens billions in pension funds. By pushing these companies to shift from fossil fuels to clean energy, institutional investors play a critical role in averting the climate crisis.
