Biden announces return to global climate accord, new curbs on US oil industry

The orders by the newly sworn-in president will mark the start of a major policy reversal in the world’s second-largest greenhouse gas emitter behind China. (AP)
Short Url
Updated 21 January 2021
Follow

Biden announces return to global climate accord, new curbs on US oil industry

  • Biden has promised to put the United States on a track to net-zero emissions by 2050

WASHINGTON: US President Joe Biden on Wednesday announced America’s return to the international Paris Agreement to fight climate change, the centerpiece of a raft of day-one executive orders aimed at restoring US leadership in combating global warming.
The announcements also included a sweeping order to review all of former President Donald Trump’s actions weakening climate change protections, the revocation of a vital permit for TC Energy’s Keystone XL oil pipeline project from Canada, and a moratorium on oil and gas leasing activities in the Arctic National Wildlife Refuge that Trump’s administration had recently opened to development.
The orders by the newly sworn-in president will mark the start of a major policy reversal in the world’s second-largest greenhouse gas emitter behind China, after the Trump administration pilloried climate science and rolled back environmental regulation to maximize fossil fuel development.
Biden has promised to put the United States on a track to net-zero emissions by 2050 to match the steep and swift global cuts that scientists say are needed to avoid the most devastating impacts of global warming, using curbs on fossil fuels and massive investments in clean energy.
The path will not be easy, though, with political divisions in the United States, opposition from fossil fuel companies, and wary international partners concerned about US policy shifts obstructing the way.
“We got off track very severely for the last four years with a climate denier in the Oval Office,” said John Podesta, an adviser to former President Barack Obama who helped craft the 2015 Paris Agreement. “We enter the international arena with a credibility deficit.”
Biden’s orders also require government agencies to consider revising vehicle fuel efficiency standards and methane emissions curbs, and to study the possibility of re-expanding the boundaries of wilderness national monuments that had been reduced in size by the Trump administration.
While environmental advocates were thrilled by the orders, industry groups and conservatives criticized them.

Alaska’s Republican Governor Mike Dunleavy mocked Biden’s decision to shut down oil and gas work in the Arctic National Wildlife Refuge, saying the new president “appears to be making good on his promise to turn Alaska into a large national park.”
The American Petroleum Institute, the nation’s top oil and gas industry lobby group, meanwhile, said it believed blocking the Keystone XL oil pipeline was a “step backward.”
“This misguided move will hamper America’s economic recovery, undermine North American energy security and strain relations with one of America’s greatest allies,” API President Mike Sommers said.
Global counterparts and climate advocates welcomed Washington’s return to cooperation on climate change, but expressed some skepticism about its staying power and its ability to overcome domestic political turmoil.
Trump withdrew the United States from the 2015 Paris deal late last year, arguing it was too costly to the US economy.
“The United States continues to be the one and only country that has withdrawn from the Paris Agreement, making it, frankly, the pariah of this multilateral agreement,” former UN climate chief Christiana Figueres, told Reuters.
Biden can regain US credibility by “doing the domestic homework” of ambitious climate action at home.
Brian Deese, Biden’s director of the National Economic Council, told Reuters that the United States hopes to encourage other big emitters to also “push their ambition, even as we have to demonstrate our ability to come back on the stage and show leadership.”
Pete Betts, an associate fellow at London-based think tank Chatham House who led climate negotiations for the European Union when the Paris deal was struck, said the United States will need to match its promises with financial commitments too.
The United States under Obama pledged to deliver $3 billion to the Green Climate Fund to help vulnerable countries fight climate change. It has delivered only $1 billion so far.
“The US will need to put some money on the table, and also encourage others to do the same,” he said.

 


Saudi minister at Davos urges collaboration on minerals

Global collaboration on minerals essential to ease geopolitical tensions and secure supply, WEF hears. (Supplied)
Updated 20 January 2026
Follow

Saudi minister at Davos urges collaboration on minerals

  • The reason of the tension of geopolitics is actually the criticality of the minerals

LONDON: Countries need to collaborate on mining and resources to help avoid geopolitical tensions, Saudi Arabia’s minister of industry and mineral resources told the World Economic Forum on Tuesday.

“The reason of the tension of geopolitics is actually the criticality of the minerals, the concentration in different areas of the world,” Bandar Alkhorayef told a panel discussion on the geopolitics of materials.

“The rational thing to do is to collaborate, and that’s what we are doing,” he added. “We are creating a platform of collaboration in Saudi Arabia.”

Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources 

The Kingdom last week hosted the Future Minerals Forum in Riyadh. Alkhorayef said the platform was launched by the government in 2022 as a contribution to the global community. “It’s very important to have a global movement, and that’s why we launched the Future Minerals Forum,” he said. “It is the most important platform of global mining leaders.”

The Kingdom has made mining one of the key pillars of its economy, rapidly expanding the sector under the Vision 2030 reform program with an eye on diversification. Saudi Arabia has an estimated $2.5 trillion in mineral wealth and the ramping up of extraction comes at a time of intense global competition for resources to drive technological development in areas like AI and renewables.

“We realized that unlocking the value that we have in our natural resources, of the different minerals that we have, will definitely help our economy to grow to diversify,” Alkhorayef said. The Kingdom has worked to reduce the timelines required to set up mines while also protecting local communities, he added. Obtaining mining permits in Saudi Arabia has been reduced to just 30 to 90 days compared to the many years required in other countries, Alkhorayef said.

“We learned very, very early that permitting is a bottleneck in the system,” he added. “We all know, and we have to be very, very frank about this, that mining doesn’t have a good reputation globally.

“We are trying to change this and cutting down the licensing process doesn’t only solve it. You need also to show the communities the impact of the mining on their lives.”

Saudi Arabia’s new mining investment laws have placed great emphasis on the development of society and local communities, along with protecting the environment and incorporating new technologies, Alkhorayef said. “We want to build the future mines; we don’t want to build old mines.”