Execs take a ‘sober tone’ at Climate Week as election looms

By Zack Colman, Sara Schonhardt | 09/26/2024 06:47 AM EDT

Companies are hoping the next administration will keep President Joe Biden’s clean energy policies, but they’re wary of talking about what a new Trump White House might mean for their businesses.

People cross the Brooklyn Bridge during a Youth Global Climate demonstration ahead of the U.N. Climate week.

The annual U.N. Climate Week gathering saw many company executives praise the Biden administration’s clean energy stimulus measures, but they wouldn’t speculate on what their fortunes would look like if Donald Trump returned to the White House. Alex Kent/AFP via Getty Images

NEW YORK — Corporate leaders who filled New York Climate Week events credited the Biden administration for boosting the U.S. competitiveness against China, growing clean energy jobs and curbing greenhouse gases — but they steered clear of how they would adjust their plans if Donald Trump returned to the White House.

Executives from the energy, finance and tech sectors steadfastly avoided discussing whether a victory by the GOP nominee who has pledged to uproot Biden’s climate policies would alter their corporate strategies, even as many of them acknowledged the current global efforts to slow climate change were falling short.

That kept looming questions around the November election — and whether they’d prefer to see Vice President Kamala Harris or Trump win the presidency — unanswered.

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“We don’t want to get involved in the U.S. election,” Chuka Umunna, JP Morgan’s London-based managing director and head of sustainable solutions and green economy investment banking in Europe, the Middle East and Africa, said in an interview.

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