US House Moves to Reverse Green Energy Subsidies

The U.S. House passed the 'One Big Beautiful Bill Act,' which, if enacted, would repeal most clean energy tax credits and end subsidies for wind and solar, potentially slowing the country's transition to renewable energy. Europe is facing criticism over its rapid energy transition, with Spain experiencing a blackout and instability linked to the EU’s REPowerEU plan. South Africa is seeing significant growth in solar and wind power, thanks to supportive policy reforms and private sector investment. China recorded its first decline in greenhouse gas emissions, driven by accelerated clean energy deployment. In Bangladesh, new regulations require banks to allocate a portion of CSR funds to climate adaptation initiatives. These developments highlight global challenges and varied approaches to balancing energy security, climate goals, and economic pressures.