Donald Trump’s return as U.S. president raises serious concerns for the global climate tech landscape. Known for calling climate change a “hoax” and pushing fossil fuel expansion, Trump has shown resistance to initiatives like the Inflation Reduction Act (IRA) — a landmark in green tech support. As European climate innovators watch closely, the question looms: Will the U.S. continue to support green tech incentives under Trump?
The IRA, which led to a boom in U.S.-based green tech jobs and spurred European climate tech companies to establish stateside, now faces an uncertain future. Trump’s vow to limit IRA spending adds complexity, though repeal would require legislative backing. The possibility of reduced U.S. support may actually benefit Europe, offering an opportunity to retain and invest in homegrown green tech talent.
European leaders like Planet A’s Lena Thiede urge the EU to strengthen climate independence, suggesting that European countries should mobilize private and public capital to counterbalance U.S. policy shifts. If Europe seizes this moment, it could bolster its climate tech sector and build resilience in the face of shifting American policies.
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