COP29: capitalism and the far right, the pact of arsonists against the climate

The formula “Rather Hitler than the Popular Front!” » has not aged a bit when it comes to the climate crisis: rather than fighting against global warming, and therefore considering abandoning fossil fuels, capital will always line up under the banner of the most fierce climate skeptics. What does it matter if they are immersed in nationalism and the extreme right, as long as the profits continue to rain in.

The return of Donald Trump to the White House is the most blatant example of this conspiracy against the climate. His re-election as head of the United States, shortly before COP29 in Baku (Azerbaijan), had the effect of an explosion. The ten largest fortunes in the world rubbed their hands: their wealth jumped by more than 64 billion dollars, 24 hours after the verdict at the polls.

Elon Musk, who is leading the race in this ranking, pocketed $26.5 billion alone, according to the Bloomberg agency. A hell of a reward for the boss of Tesla and SpaceX, who had injected 100 million into the campaign of the xenophobic Republican candidate. Beyond his fervent support, many tech moguls are getting in on the act.

Drill, baby, drill !

Not so much a conglomerate of climate skeptics as of transhumanists, as sociologist Olivier Alexandre explained in October in our columns: “They think that, thanks to new technologies and space colonization, they will be able to develop an unlimited level of wealth, so that the question of the scarcity of resources is unfounded. » The famous myth of technosolutionism as a miraculous cure for global warming. Or how to extend the life expectancy of capitalism… by dressing it up in green.

The bosses of industrial lobbies – starting with those of fossil fuels – have also popped the champagne. What’s better than a drilling enthusiast – one of whose main campaign slogans was “Drill, baby, drill!” » (in French: fore, darling, fore!) – at the head of the world's leading economic power. With the relaunch of the exploitation of deposit wells.

Here again, the alliance of hydrocarbon proponents and climate skeptics comes down to a financial deal. THE Washington Post revealed in April that the future tenant of the White House gathered around twenty oil and gas executives and lobbyists in his Mar-a-Lago residence, urging them to contribute $1 billion to his campaign. In exchange for this, he would fully deregulate the environmental regulations that weigh on the fossil fuel industry.

The system is well established: it was Chris Wright, CEO of a hydraulic fracturing company, who was then responsible for raising the funds to fuel the Republican campaign. In return, Trump offered, last Saturday, to anyone who considers “scandalous to explain pollution by CO emissions₂ »the Ministry of Energy. The Wright case is symptomatic of these bosses who do not hesitate to bet on the far right, provided that it protects their business against the climate.

During his mandate, Democratic President Joe Biden closed the floodgates regarding the granting of liquefied natural gas (LNG) export licenses, demanding an assessment of the climate and economic impacts of these new projects. The future Trump administration has promised to reopen them by unraveling certain regulations that weigh on LNG. In the state of Louisiana alone, the affair is worth 13 billion dollars, according to an industry leader.

Paris Agreement, agreement to be scrapped

The interference of lobbies does not only occur in electoral campaigns; they also interfere with climate negotiations. This is evidenced by the more than 1,700 accreditations issued in Baku alone for affiliates in the hydrocarbon sector, according to a coalition of NGOs. This undermining work is all the more worrying since, unlike his first election, the return of the climate denier will this time have a much more devastating impact on the fight against global warming.

The 47^e President of the United States intends to do it again by once again withdrawing his country from the 2015 Paris agreement. Worse, he is considering leaving the United Nations Framework Convention on Climate Change (UNCCC), a treaty adopted in 1992 which governs international climate negotiations. An almost irreversible decision since a potential reintegration of the UNCAC would require that a future American administration obtain the consent of two-thirds of the Senate.

It is quite natural that Trump took the lead in the international climate skeptic that is taking shape. From the Argentinean Javier Milei to the Dutchman Geert Wilders, including the Indian nationalist Narendra Modi… everyone celebrated his return with fanfare. The risk today is that they will follow suit, the situation having changed since 2016.

In an interview conducted by Liberation November 9th, the diplomat, economist and figurehead of the Paris agreement, Laurence Tubiana, recalled that at the time, the first American withdrawal did not generate any international consensus. Enough to dissuade, at the time, “far-right President Jair Bolsonaro to do the same thing with Brazil”.

Although the Paris Agreement is not legally binding, it relies on mutual trust between States to achieve its objectives. Above all, it requires leadership. The United States turns its back on January 2025 according to the wishes of the troublemaker, at the same time, the countries of the world are called upon to define their new objectives for reducing greenhouse gas emissions.

Finally, why commit to doing more if the first historical polluting country leaves the ship? “The level of tension at COP29 is worrying. The risk of contagion exists, perhaps States will make less effort”asks Lola Vallejo, climate advisor at the Institute of Sustainable Development and International Relations.