Not sure why we’re even writing about climate change, given that President Trump has reassured the world via his UN rant that climate change “claims” are a “hoax” and “the greatest con job perpetrated by the world”.

On the other hand, addressing the same meeting by video, President Xi Jinping of China, the planet’s biggest greenhouse gas emitter (more than a quarter of all emissions) and coal user, for the first time announced clear emission reduction targets for his nation – China will reduce its greenhouse gas emissions across the economy by 7-10% by 2035, while “striving to do better”.

He added China would:

• expand wind and solar power capacity to more than six times 2020 levels
• increase forest stocks to more than 24bn cubic metres
• make “new energy vehicles” the mainstream in new vehicle sales

Back to President Trump. He asserted his usual refrain that reducing carbon emissions costs jobs. But the facts say otherwise. In the US, Clean energy jobs grew more than three times faster than the rest of the U.S. economy in 2024, according to E2, an environmental nonprofit. Over the last five years, more than 500,000 clean energy jobs have been added, far surpassing the growth in the fossil fuel, gas and diesel motor vehicle sectors. Last year, 82% of all new energy sector jobs were in clean energy, the nonprofit reported.

And a bit closer to home, this kind of green growth is the expectation of the Australian Government, which just announced its new emissions reductions targets – aiming to cut emissions by 62-70% below 2005 levels by 2035 (stepping up from the previous target of 43% reductions by 2030).

Australia’s Treasury has modelled different scenarios to help understand the economic impacts of the net zero transition by 2050 for Australia. 

“Treasury’s modelling report makes five key conclusions:

1. Australia can be a primary beneficiary of the global net zero transformation if we continue to take decisive action on climate change 
2. Cheaper, cleaner energy will strengthen Australia’s international competitiveness 
3. Clear and credible climate action will lead to more jobs, higher wages and better living standards for Australians 
4. Our orderly net zero plan gives businesses the clarity and certainty they need to invest in Australia with confidence 
5. A disorderly transition would mean fewer jobs, less business investment, lower wages, lower living standards and higher power prices in a smaller economy.” 

“We want to continue to seize the economic opportunity that the energy transition offers our nation,” said Prime Minister Anthony Albanese announcing the more ambitious targets. 

But hey, here in NZ our Government is on Trump’s side. We’re going backwards. We’re recommitting to oil and gas exploration … a bunch of political dinosaurs chasing a dying industry. And the Government will likely lower methane emissions target to around 14-15% below 2017 levels, when our Climate Commission recommends reductions of 35-47%.

Soon, NZ will need to defend its backward climate posture on the global stage. While Foreign Minister Peters skipped the climate session last week at the UN, NZ cannot avoid a reckoning at the next UN Climate Conference (COP30) to be held in Brazil in November.

What’s the energy future really look like?

According to the International Energy Agency, in 2024, 80% of the growth in global electricity generation was from renewable and nuclear sources, contributing 40% of the world’s total electricity generation for the first time. Renewable energy sources, including solar, wind and hydropower, are forecast to meet approximately 95% of global electricity demand growth through 2027.

More than 90% of new renewable projects are now cheaper than fossil fuel alternatives, according to the International Renewable Energy Agency (IRENA).