Coal Stocks Volatile As Trump Mulls Paris Climate Accord

Donald Trump is expected to withdraw the U.S. from a landmark global climate agreement, a White House official has said, although aides are looking for "caveats in the language" related to the exit and the decision is not yet final.

U.S. Secretary of State John Kerry, with his two-year-old granddaughter Isabelle Dobbs-Higginson on his lap and United Nations Secretary-General Ban ki-Moon looking on, signs the COP21 Climate Change Agreement on behalf of the United States during a ceremony on Earth Day, April 22, 2016.

The head of the Environmental Protection Agency Scott Pruitt has overtly advocated quitting a deal he judges "bad" for America. A long list of surprising people and companies-including ExxonMobil, several Republican senators, and Trump's secretary of state, Rex Tillerson (who was CEO of ExxonMobil before assuming his current role)-have all advocated for staying in the climate pact in one way or another.

The head of electronic vehicle maker Tesla and space exploration company SpaceX tweeted that he had "done all I can to advise.that we remain". "When the President has a decision he will make that announcement and he will make it clear what the basis of that is".

The move will certainly be hailed in some quarters, with a strong vein of climate scepticism in parts of the establishment and among some of Trump's supporters.

Withdrawal would take effect a year after that - taking us to November 2020 at the earliest if Trump uses this option.

"I urge President Trump to reconsider abandoning the Paris climate agreement". The UNFCCC is the body that created both the failed Kyoto Protocol and the Paris Agreement.

Under Trump, who once called climate change a "hoax", Washington has resisted intense pressure from its partners to commit to respecting the global accord.

Mr Trump faced considerable pressure to hold to the deal during meetings with European leaders and Pope Francis on his recent trip overseas.

Abandoning the Paris deal would fulfil a central campaign pledge for the president, but would anger worldwide allies who spent years in hard negotiations that produced an accord to reduce carbon emissions.

Though he opposed Trump's election, Musk faced scrutiny for sticking by the council after Trump took office.

No matter what changes other countries made in their positions, China would follow its green, sustainable development concept, strengthening measures to deal with climate change and would conscientiously follow the Paris agreement, Hua said.

Commenting on the agreement, Chinese Premier Li Keqiang said fighting climate change was a "global consensus" and an "international responsibility".

"If the United States leaves the framework convention, the USA will become a rogue state", says Bangladeshi climate expert Saleemul Huq.

Withdrawing from the climate accord would not necessarily be welcome among the wider business community.

  • Leroy Wright