President Donald Trump said Wednesday he would not use force to acquire Greenland, the first time he has ruled out using military action to acquire the territory.

Speaking at the World Economic Forum in Davos, Trump lamented that the United States “probably won’t get anything unless I decide to use excessive strength and force, where we would be, frankly, unstoppable.”   

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“But I won’t do that,” he added. “That’s probably the biggest statement I made, because people thought I would use force. I don’t have to use force. I don’t want to use force. I won’t use force.”

Read more: The Five Ways Europe Could Respond to Trump’s Greenland Threat

“All the United States is asking for is a place called Greenland,” he continued.

The comments come amid a prolonged campaign by Trump to annex the island, which is a semi-autonomous territory of Denmark.

That campaign has become increasingly confrontational in recent weeks, as Trump has insisted that there was “no going back” on his push to acquire Greenland, which he has insisted is essential for U.S. national security.

In recent weeks, Trump has posted a meme showing pictures of the island draped in an American flag, and raised the example of the U.S. military’s removal of Venezuelan President Nicolas Maduro when discussing his designs on Greenland, prompting fears that he may use military action to seize the territory.

Trump’s aggressive posture prompted angst among European officials, and his appearance was preceded by a series of speeches condemning his ambitions to take the territory. On Tuesday, French President Emmanuel Macron denounced what he described as a “new imperialism,” without mentioning Trump by name.

“We do prefer respect to bullies,” Macron said. “And we do prefer rule of law to brutality.”

Canada’s Prime Minister Mark Carney, similarly, did not say Trump’s name, but announced that the “rules-based order is fading.”

“Canadians know that our old, comfortable assumption that our geography and alliance memberships automatically conferred prosperity and security is no longer valid,” Carney said.

Trump’s pressure campaign over Greenland had ramped up ahead of Davos, escalating from words to action.

Over the weekend, he announced tariffs on eight European countries—and NATO allies— for taking part in military exercises on the island.

That in turn prompted threats of retaliatory economic measures from those countries, which were already subject to tariffs of 10% and 15%. European Union (E.U.) officials convened an emergency meeting to discuss a coordinated response. Some officials raised the prospect of abandoning the U.S.-E.U. trade deal struck last summer. The agreement includes $750 billion worth of energy purchases from the U.S., $600 billion in E.U. investment, and billions of dollars in reduced tariffs on imports from European countries.

European Commission President Ursula von der Leyen warned during her speech at the World Economic Forum that the E.U.’s response to the tariff threats will be “unflinching, united and proportional.”

“In politics as in business—a deal is a deal. And when friends shake hands, it must mean something,” von der Leyen said.

This is a developing story.

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As leaders gather at the World Economic Forum’s annual meeting in Davos, they do so at a moment of real consequence for humanity’s shared future. The choices made now about energy, finance, and cooperation will shape not only climate outcomes, but economic resilience and global stability for decades to come.

The evidence is no longer in dispute. Continued expansion of coal, oil, and gas is incompatible with planetary stability and long-term prosperity. Fossil fuels remain the primary driver of global warming and ecosystem degradation, creating material risks to food systems, public health, infrastructure, and national economies. 

These risks are no longer theoretical. Extreme weather losses are driving sharp increases in insurance premiums, entire regions are becoming uninsurable, and climate risks are increasingly showing up in how countries are rated by financial markets and in company accounts. 

At the same time, the global energy transition has entered a decisive phase. Renewable technologies are now cheaper, faster to deploy, more resilient, and more accessible than fossil fuel alternatives across most regions of the world, though access and deployment remain uneven. In 2024, renewables accounted for more than 90% of new global power capacity additions, a clear signal that markets are moving faster than politics. In many markets, building new fossil fuel infrastructure is no longer economically rational; it increasingly represents a stranded asset risk. 

Renewables are creating jobs at a faster pace than fossil fuels. According to the International Energy Agency, clean energy sectors added roughly 1.5 million jobs in 2023, while fossil fuel industries added just 940,000 jobs, underscoring where the future of work in energy now lies.

Yet despite these realities, the fossil fuel economy continues to exert outsized political and financial influence. This was evident at COP30 in Belém, where negotiations once again failed to deliver a clear, binding commitment to phase out fossil fuels, and where one in every 25 attendees represented fossil fuel interests. The gap between what science demands and what politics delivers remains dangerously wide.

Still, leadership is emerging. The Belém Declaration on the Transition Away from Fossil Fuels signaled a shift toward coalitions of countries choosing action over paralysis, guided by science and informed by Indigenous knowledge. Initiatives led by Colombia and The Netherlands to advance a Fossil Fuel Phase-Out Conference show how progress can be accelerated without abandoning the annual United Nations climate summits. Strengthening global cooperation  remains essential, even as new coalitions accelerate action where progress has stalled.

For business and finance leaders, the message should be unmistakable. The question is no longer whether the fossil fuel era will end, but how. Who will lead, and who will be left behind? A just and orderly phase-out that does not unfairly burden nations least responsible for the crisis is not only a moral imperative; it is a strategic economic opportunity.

Treating fossil fuels as instruments of short-term geopolitical leverage may appear decisive, but it entrenches fragility, delays diversification, and misreads the future of energy security. 

A whole-planet approach is essential. That means phasing out planet-harmful fossil fuel subsidies, redirecting finance toward renewable energy and storage, and investing in living forests through platforms such as the Tropical Forest Forever Facility. Addressing climate change, food systems, health, and economic stability in silos is no longer viable. 

Science must guide integrated action, and financial systems must begin to reflect the true value of the systems on which prosperity depends.

Davos has long been where economic futures are debated and shaped. Real leadership means aligning capital, policy, and innovation with what science tells us is necessary and what justice demands is fair. Recent decisions by the United States to step back from international climate cooperation signals a dangerous turn inward at precisely the moment when collective problem-solving is most needed. These choices will reverberate far beyond climate, affecting development, security, and trust across the global system.

History shows that cooperation at scale is possible. The world came together to protect the ozone layer. It mobilized against apartheid. It built institutions like the International Criminal Court to uphold international justice. We can—and must—do so again.

The tools are ready. The economics are compelling. The science is settled. What remains is the courage to lead.