With President Donald Trump back in office, the US is leaving the Paris Agreement for the second time. Unlike in 2017, this withdrawal is set to have more lasting consequences, Akshat Rathi tells producer Mythili Rao. Meanwhile, even as the US gives up its climate leadership, China’s focus on clean energy is growing. A new report from BloombergNEF finds that global investment in the energy transition surpassed $2 trillion for the first time in 2024, with China driving two thirds of that growth. BNEF Deputy CEO Albert Cheung shares the report’s highlights, and reflects on the role international competition will play in this next phase of reaching net zero.

Explore further:

• Bloomberg NEF’s energy transition investment trends 2025 report
• Reporter Zahra Hirji's roundup of the first slew of President Trump's climate moves
• Past episode with Yale historian Paul Sabin about what to expect in President Trump’s second term

Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen, Alfred Cang, Ewa Krukowska, John Ainger, Jen Dlouhy, Zahra Hirji, Lou Del Bello, Simone Iglesias, Amanda Hurley and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.

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Plans are already underway for COP30 to pick up the baton and tackle COP29's unfinished business. The 2025 climate conference is set to take place in Belem, Brazil, a gateway to the Amazon rainforest. And last week, André Corrêa do Lago was named COP30 president. Corrêa do Lago currently serves as Brazil’s Secretary for Climate, Energy and the Environment, and he spoke with Akshat Rathi at COP29 in Baku, in November. He says that although holding a global summit in Belem poses logistical challenges, the symbolism of the location holds “fantastic political power.”

Explore further:

• Bloomberg Green reporter Simone Iglesias's story on Corrêa do Lago's plans as COP30 President
• Past episode about Azerbaijan’s challenges with hosting COP29 in Baku
• Past episode with Brazil's chief climate negotiator, Liliam Chagas, about the viability of a fossil fuel nonproliferation treaty

Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks to Simone Iglesias, Siobhan Wagner, Ethan Steinberg, Blake Maples, and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.

See omnystudio.com/listener for privacy information.

As Donald Trump returns to the White House, Akshat Rathi speaks to Yale historian Paul Sabin about whether recent presidential history might hold some lessons on what to expect from the Trump administration’s approach to energy and environmental policy this term. Looking back at the Carter and Reagan years, Sabin explores how present-day Trump priorities– from dismantling government agencies to ramping up oil and gas production–have historical precedent. And Jonathan Lash, who was an environmental lawyer in the Reagan years, explains why he’s feeling déjà vu in these early days of Trump’s second term.

Explore further:

• Past episode with sci-fi writer Kim Stanley Robinson about his visions for climate politics in 2025
• Past episode with President Biden’s climate czar Ali Zaidi on the IRA’s legacy
• Past episode with Congressman Ro Khanna on what Trump’s second term may hold

Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen, Siobhan Wagner, Jessica Beck, and David Fox. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.

See omnystudio.com/listener for privacy information.