With the US retreating from climate finance and fossil fuels getting cheaper, Asia faces a choice: chase short-term gains or find new partners to keep its clean-energy future on track. Washington’s withdrawal last week from the Just Energy Transition Partnership (JETP), a global initiative to help developing nations shift from coal to renewables, has cast a long shadow over energy-hungry Asia, which faces intensifying climate threats and a fast-evolving geopolitical landscape. The price of Brent crude oil recently plunged to a five-month low before inching up as the world’s most influential oil cartel, Opec, increased output from April in response to pressure from US President Donald Trump to bring down prices. A possible early resolution to the Ukraine-Russia war could open the tap to cheap oil from Russia that had
