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Donald Trump鈥檚 Return to Power and Impacts on Global Sustainability

The reelection of Donald Trump as President of the United States has sparked significant debate among experts regarding the potential trajectory of his climate policies. This issue took center stage at the Sustainable Update, a collaborative event organized by the Faculty of Economics and Business (FEB) and the Faculty of Social Sciences (FOSS) at Universitas Islam Internasional Indonesia (UIII).

Held on Monday, November 25, 2024, in the Teleconference Room of FEB UIII, the discussion revolved around the theme: "Trump is Back: Its Impact on Sustainability." This session was particularly noteworthy due to the presence of two distinguished speakers: Felia Salim, Senior Advisor at the Global Energy Alliance for People and Planet (GEAPP), and Yose Rizal Damuri, Executive Director of the Center for Strategic and International Studies (CSIS).

In the first session, Yose Rizal Damuri emphasized the rising prominence of 鈥渟ecurity鈥� in the narratives of major economies, driven by escalating geopolitical tensions. He cited the Suez Canal attack in the Red Sea during the Israel-Gaza conflict, which had significant repercussions on global trade, commodities, and the world economy.

Highlighting the evolving global power dynamics, Damuri remarked that under Trump鈥檚 administration, the United States would face a more economically dominant China. He urged Indonesia to adopt a more collaborative approach. "This marks the onset of Cold War 2.0 between the U.S. and China. Indonesia must take a leadership role in strengthening regional cooperation,鈥� he stated.

Meanwhile, Felia Salim shed light on two major global disruptions: climate change and technological advancement. Reflecting on Trump鈥檚 first term in 2017, she noted his administration鈥檚 conservative policies, including significant support for oil, LNG, and gas industries, and the U.S. withdrawal from the Paris Agreement due to regulatory uncertainties.

Looking ahead, she predicted a similar trajectory. However, she expressed optimism regarding Indonesia鈥檚 commitment to net-zero targets, highlighting opportunities for financing, investment, and carbon credit markets through local corporate initiatives and new asset classes.

The collaborative public lecture between FEB and FOSS provided a platform for academics, students, and policymakers to gain a comprehensive understanding of sustainability. It underscored the importance of interdisciplinary collaboration across finance, economics, and socio-political spheres to address global challenges effectively. This initiative reflects UIII's commitment to equipping students with a robust and evolving knowledge base, preparing them to navigate the complexities of a rapidly changing world.

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