Investment Bank Says Future Global Climate Agreement Hinges on U.S. Presidential Election

A report out Thursday by the investment bank HSBC predicts the global economy will continue it’s slide, and an international deal on curbing climate change could depend on who enters the White House a year from now. The “Climate Investment Update,” produced by analysts with HSBC Global Research says three wild cards could impact  the “climate economy.”
The primary wild card is the upcoming Presidential race. With only Iowa just recently behind us, it’s unclear who will lead the Republican ticket in November. But several candidates, including Rick Perry and Rick Santorum, outright reject the idea that we humans cause climate change. Ron Paul now refers to it as a “hoax.” Both Mitt Romney and Newt Gingrich seem to have hedged their bets, not denying climate change but flip flopping on its cause and impact. It’s unclear what they would be willing to do about it. Only Jon Huntsman has actually stated a desire to “trust science.”  If Obama gets reelected, expect a deal.
The second wild card in the report is the possibility of energy trade wars. U.S. officials have accused China of dumping solar panels, and the European Union’s unpopular cap and trade requirements for airline emissions kick in this year.
The third, of course, is the weather. Always unpredictable. For the entire report, click here.

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