President Donald Trump's decision to exit an international climate agreement sparked outrage from many quarters, but some countries are likely already eyeing the positives from the move, experts said Friday.
"This opens up opportunities for other countries to occupy the power vacuum that the U.S. is leaving when it pulls out of these sorts of agreements," said director at the Australian National University's Climate Change Institute, Mark Howden.
"I could imagine some countries are very positive — seeing this as a good opportunity to start flexing their muscles internationally," he added.
China , India and EU are countries that are progressing in green initiatives and will stand to benefit, Howden said.
The world's second largest economy and EU leaders have already said they are still committed to the Paris Agreement on tackling global warming and are expected to announce intensified joint measures to reduce carbon emissions in a statement later on Friday, Reuters reported.
"We are going to see closer cooperation between China and the European Union in accelerating the energy transition into a low-carbon economy," Frank Yu, Wood Mackenzie's principal consultant of Asia-Pacific power and renewables, wrote in a note on Friday, adding that the U.S. withdrawal presents "an unprecedented opportunity for China".
He predicted that U.S. companies involved in environmentally friendly technologies will relocate renewable technology research and development centers to Asia, helping countries such as India, Indonesia and Vietnam that need foreign capital to reach renewable goals.
"By leveraging the strong manufacturing value chain in China and other Asian countries, cost of renewables could fall even faster and penetrate more rapidly to displace dirty fossil fuel such as coal in key Asian markets," Yu said.
It's not just China: Here's who could benefit from Trump's exit from the Paris deal
"This opens up opportunities for other countries to occupy the power vacuum that the U.S. is leaving when it pulls out of these sorts of agreements," said director at the Australian National University's Climate Change Institute, Mark Howden.
"I could imagine some countries are very positive — seeing this as a good opportunity to start flexing their muscles internationally," he added.
China , India and EU are countries that are progressing in green initiatives and will stand to benefit, Howden said.
The world's second largest economy and EU leaders have already said they are still committed to the Paris Agreement on tackling global warming and are expected to announce intensified joint measures to reduce carbon emissions in a statement later on Friday, Reuters reported.
"We are going to see closer cooperation between China and the European Union in accelerating the energy transition into a low-carbon economy," Frank Yu, Wood Mackenzie's principal consultant of Asia-Pacific power and renewables, wrote in a note on Friday, adding that the U.S. withdrawal presents "an unprecedented opportunity for China".
He predicted that U.S. companies involved in environmentally friendly technologies will relocate renewable technology research and development centers to Asia, helping countries such as India, Indonesia and Vietnam that need foreign capital to reach renewable goals.
"By leveraging the strong manufacturing value chain in China and other Asian countries, cost of renewables could fall even faster and penetrate more rapidly to displace dirty fossil fuel such as coal in key Asian markets," Yu said.
It's not just China: Here's who could benefit from Trump's exit from the Paris deal
