Manufacturing Landscape Post-Paris Climate Agreement
President Trump’s decision last week to have the United States withdraw from the Paris Climate Agreement dominated headlines around the world. Opinions on the decision are incredibly divisive, with one side claiming it’s a step in the wrong direction for actionable climate change and the other side saying it will help the U.S. focus on fossil fuel industry growth at home. Regardless of your stance on the issue, it will surely affect industrial jobs in the future. Here are a few ways that could hypothetically happen.
Domestic fossil fuel business will expand
We’re already seeing this a bit with the planned opening of new mines, but expect to see existing fossil fuel companies expand their processes in the wake of the President’s decision.
Renewables manufacturing will expand
On the other end of the spectrum, there are a number of local leaders around the country pledging to abide by the climate accords. This could lead to state and local governments pushing to bring more renewable manufacturers into their regions to set up shop.
New technology research gets more funding
An issue of shifting to renewable energy has always been scale. How can you make such sweeping changes to the way the majority of the world operates? Look for think tanks and researchers to garner more investment to try to solve some of these energy issues on a larger scale. As a result, we might see more high-tech manufacturers opening.
Fossil fuel research will get more funding too
Companies specializing in energy have always tried to find ways to refine their processes and systems. Look for more headlines to hit the news regarding advancements in energy collection to reduce waste or limit impact of surrounding areas.
What happens in the next several months to years because of the Paris Climate Agreement changes remains to be seen. What’s clear is industries affected on both sides of this issue will begin doubling down their efforts to either take advantage of the change or work harder to sway public opinion back in their favor. Share your thoughts with us in the comments section below.