In a surprising announcement last week at the North American Leaders Summit, the presidents of Mexico and the US, as well as the prime minister of Canada, made a pledge that the countries would strive to wean off fossil fuels reliance and usher into an age of green collection. The countries pledged to increase green energy electricity collection to 50% of total electricity consumption in their respective nations. This is a monumental decision which will impact not only job-growth in a variety of different sectors, but also it sends a message to the other national entities who in December last year at the Paris Accord pledged to some pretty drastic renewable energy collection and distribution goals.
Now these goals are great and will serve to benefit the general public, and will set a global precedent. But many experts see a different problem. This commitment is heavily reliant on the 20% of carbon free generation that comes from nuclear power plants, but, between the tax breaks available on solar and wind energy and the dramatic cost reduction in those industries, nuclear power plants have lost their edge and are predicted to retire. Furthermore, with the [slim] possibility of presumptive GOP nominee, Donald Trump getting elected, the US faces the issue of this entire energy savings partnership being struck out, not solely because of the GOP’s presumptive candidate’s views on green technology, but also through the anger he has been fostering between Mexico and the US.
In regards to the Paris Accord, several poignant studies conducted by those from MIT to the UN have proven the policy implementation isn’t nearly far-reaching enough. If our efforts continue for the next century, conservative studies have shown that the policy put forward will slow down global warming by a meager four years. That being said, what we have seen is that innovation in the green sector sponsored by private investments has been hugely successful. In the last eight years the Obama administration’s energy policy has made green energy more accessible and attractive to a wider market than ever before.