EU-US-China Cooperation & Competition in the Energy Transition
In this webinar organised in cooperation with Edison, we will discuss prospects for cooperation and competition in the area of energy transition between the EU, the US and China. These players, which account for 52% of global CO2 emissions, will shape the global energy and climate agenda in the run-up to COP26, as well as in the G20 and G7 fora.
President-Elect Joe Biden has pledged to rejoin the Paris Agreement, launch a $2 trillion green recovery plan and completely decarbonise the power sector by 2035. Under his presidency, the US is expected to join the growing net-zero-by-mid-century club.
This club also includes the EU, which is leading global energy transition efforts by providing unprecedented support to renewables and hydrogen. The ambitious EU Green Deal is now backed by significant recovery funds. The EU is also promoting green taxonomies and is considering contentious ways to limit carbon leakage, such as carbon border adjusted taxes.
China has also committed to reach carbon neutrality by 2060 and peak its emissions before 2030. However, China has put in place a highly carbon-intensive stimulus package with significant risks of lock-ins. China also keeps on building new coal capacity, which casts doubts on its actual commitment to cutting emissions.
EU-China-US cooperation is key to raise global climate ambition and avoid free-riding. Cooperation is also needed to push global trade and finance governance reforms that can favour decarbonisation. However, in an increasingly fragmented global context, EU-China-US cooperation is going to be difficult. While the pledge to keep markets open and share green technologies to abate costs is still formally on the table, the EU, the US and China look more determined than ever to promote national green industrial policies and renewable energy champions. Geo-economic considerations are becoming increasingly important policy drivers.
The speakers, who have specific expertise on energy transitions in the EU, the US and China, will discuss the main challenges to effective cooperation in light of growing mistrust and protectionism. They will also try to answer the following question throughout the webinar: "How can the EU effectively engage with the US and China through the Green Deal?". After the presentations, there will be ample room for Q&A and debate.
Introductory and conclusive remarks:
Valeria Palmisano - Head of Institutional Relations with the EU at Edison SpA
Luca Franza - Head of the Energy, Climate and Resources Programme at Istituto Affari Internazionali (IAI)
Alden Meyer - Principal at Performance Partners and Senior Associate at E3G
Michal Meidan - Director of the China Energy Programme, Oxford Institute for Energy Studies (OIES)