Colgan opened by reminding his audience that Europe exists not in isolation but at the intersection of three vast global systems: the environmental web that sustains all life, the industrial networks that generate the greenhouse emissions driving climate change, and the financial architectures that allocate the capital for both economic growth and decarbonization. Europe, he argued, views these systems through a unique lens. Its robust embrace of ESG and green finance stands in stark contrast to the more cautious attitude of other regions.
Building on this foundation, Colgan described the shocks reverberating through climate politics today. He observed that the Trump administration’s return has once again disrupted U.S. climate diplomacy and science funding, emboldening right-wing parties abroad. Meanwhile, rising interest rates are making capital-intensive clean-energy technologies more expensive relative to traditional fossil-fuel assets. Across Washington and Westminster, a new strain of “climate realism” has taken hold—one that doubts the feasibility of Paris targets and advocates a more pragmatic, if pessimistic, approach. Colgan cautioned that such realism risks abandoning decades of hard-won progress.
