Exxon Investors Show Support for Paris Agreement Despite President Trump's Stance

Trump had vowed during his 2016 presidential campaign to "cancel" the Paris deal within 100 days of becoming president as part of an effort to bolster US oil and coal industries.

But Trump's chief White House economic adviser, Gary Cohn, told reporters during the trip overseas that Trump's views on climate change were "evolving" following the president's discussions with European leaders.

President Donald Trump has reportedly chose to withdraw the United States from the Paris climate agreement, according to an Axios report citing "two sources with direct knowledge of the decision".

Attending a G7 summit nations in Taormina, Italy, on Saturday, Trump refused to endorse the landmark accord.

White House officials cautioned that details were still being hammered out and that, although close, the decision on withdrawing from the 195-nation accord - agreed to in Paris in 2015 - was not finalized.

In reality, the US commitment to the Paris agreement has already been significantly compromised by the CPP review.

An American pullout would deal a devastating blow to global efforts to combat climate change less than 18 months after the historic 196-nation pact was signed in Paris, fruit of a hard-fought agreement between Beijing and Washington under Barack Obama's leadership. In withdrawing from the agreement, the United States joins Nicaragua and Syria as the only countries in the world not participating.

A White House official said earlier in the day that Trump was planning to pull out of the Paris deal, although a final decision hadn't been made. Trump tweeted on Wednesday morning that he would be making a decision in the next few days. This is where its supporters reverse field and contend that it will be a global disaster if the USA leaves.

Trump had indicated on his worldwide trip last week that he was thinking he would honor his campaign promise to withdraw from the agreement, according to CNN. President Barack Obama pretended that the treaty was an executive agreement - even though it involves 195 countries, and purports to bind future USA presidents - precisely so he could do an end run around the Senate.

Trump's team may try to make a counterargument and send it to the Senate, where the Agreement would have a snowball's chance in a warming world of getting two-thirds approval.

The landmark agreement, made between almost 200 countries who committed to combatting global warming, was led by former president Barack Obama and signed in December 2015.

China, which overtook the United States as the world's biggest emitter of greenhouse gases in 2007, is ready to support the European Union, despite tensions on other issues from human rights to trade, according to China's ambassador to the EU, Yang Yanyi.

Trump has also talked about "re-negotiating" the agreement, a work that was the result of more than a decade of global meetings, proposals and adjustments. The issue of climate change has divided key officials in the administration.

Mattis went on to say, "climate change is a challenge that requires a broader, whole-of-government response", adding that he would "ensure that the Department of Defense plays its appropriate role within such a response by addressing national security aspects".

Without U.S. involvement, the Paris accord is unlikely to suffer a breakdown.

"The reality is that we need to accelerate those trends to meet the temperature goals in the Paris agreement", Meyer said.

"That's what I've seen pretty loud and clear that this is a situation where countries get it and they're going to move forward on climate action".

Trump has already moved to dismantle Obama-era climate change regulations, including the U.S. Clean Power Plan aimed at reducing emissions from main coal-fired power plants.

  • Zachary Reyes