Trump pulls United States out of Paris climate agreement
- Author: Leroy Wright Jun 04, 2017,
Jun 04, 2017, 12:54
That's why, when Donald Trump announced that he was pulling the United States out of the Paris Agreement, it was met with backlash from democrats, republicans, and countless USA allies. Criticism also rolled in from big bank executives, such as Goldman Sachs's GS, +1.78% chief executive, Lloyd Blankfein and Larry Fink, CEO of fund-management giant BlackRock BLK, +1.63%.
The Justice Department will take the first legal steps in the "next several weeks" and the United States will immediately halt contributions to the UN Green Climate Fund, Pruitt said. The mayor of that city, along with 29 other mayors, three state governors, over 80 university presidents, and over 100 businesses have banded together to commit to the Paris Accord without the president.
Although Trump did not name the source of the research, Reuters reported that he was referring to a study conducted by MIT in April 2016, titled 'How much of a difference will the Paris Agreement make?'. He says he's committed to moving Pittsburgh towards its future as a technological and medical research hub.
France, Germany, Italy issued a joint statement saying that Paris climate accord can not be renegotiated, but Prime Minister Theresa May declined to join the signatories, leaving a spokesperson to issue a statement instead.
So why the hysteria now, since the Paris agreement, like Kyoto, places demands on the developed world, led by the US, that it does not on the developing world, led by China?
In a phone call with the United States president shortly after his White House announcement, the Prime Minister stressed that the UK remained committed to the 2015 agreement, which aims to limit the rise in global temperatures caused by the use of carbon-based fuels by 2C.
"(Climate change) is undeniable.
The 2015 United Nations Climate Change Conference, COP21, laid the framework for an ambitious global action plan to counteract climate change.
The UN chief said he was "deeply convinced" that USA "states, cities, the business community, the civil society will also remain engaged, will bet in the green economy". "Americans will honor and fulfill the Paris Agreement by leading from the bottom up - and there isn't anything Washington can do to stop us".
"I made the UK's position clear to president Trump last week at the G7 meeting, as did the other G7 leaders, and I made the position clear to president Trump last night". India will be allowed to double its coal production by 2020.
"He thinks we have to negotiate better deals for this country", she said, "and that there's a balance between environmental protection and and economic growth". The world can continue to count on Europe for global leadership in the fight against climate change.
German industry associations also criticised Trump's decision, warning that it would harm the global economy and lead to market distortions.