The US president has signed a series of executive actions to address climate change. The orders intend to eliminate fossil fuel subsidies, to pause to all oil and gas drilling on federal land or offshore waters and to identify steps in order to double offshore wind power generation by 2030 (in 2019, offshore wind accounted for less than 1% of the US power mix). In addition, the executive actions aim to electrify the fleet of government vehicles and to conserve at least 30% of federal lands and oceans by 2030.
Earlier in January 2021, the US president recommitted the United States to the Paris climate agreement, which aims to cut global GHG emissions and to keep global temperature increases "well below" 2°C. The United States, which committed in November 2014 to reduce net greenhouse gas (GHG) emissions by 26%-28% below 2005 levels by 2025, formally ratified the agreement in September 2016. In November 2020, the country officially withdrew from the Paris agreement on climate change. The country's nationally determined contribution (NDC) will be updated.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.