Asean carbon market might face setbacks with Trump back in power

The region’s momentum for decarbonisation will probably continue, but Singapore’s hope of being a carbon services hub might take a short-term hit

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Janice Lim

Published Wed, Jan 22, 2025 · 05:00 AM

Barely a day after he took over the helm of the world’s largest economy and also the largest emitter of greenhouse gas, US President Donald Trump has issued a flurry of orders to roll back climate policies enacted by the previous administration under Joe Biden. PHOTO: REUTERS

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DONALD Trump has been pretty busy since his inauguration as President of the United States for the second time.

Within hours of taking over the helm of the world’s largest economy – and largest historic emitter of greenhouse gas – the well-known climate sceptic has issued a flurry of orders to roll back climate policies enacted by the previous administration under Joe Biden.

Clearly, Trump is intent on keeping to promises he made during his election campaign. Besides ordering federal agencies to halt spending under the climate legislation known as the Inflation Reduction Act (IRA), he has instructed the US to pull out from the global emissions-reduction treaty known as the Paris Agreement.

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