EVERYTHING YOU NEED TO KNOW ABOUT THE PARIS CLIMATE AGREEMENT

by Andrew Sia

Every irrational promise that Donald Trump made during his presidential campaign was revealed to the world, and his retreat from the Paris Climate Agreement is just one of many. This move came a few days after a tense G-7 summit in Italy that ended with President Trump at loggerheads with other leaders on both the agreement and on trade, which brought great frustration to Germany, France and Italy, who vowed that the decision by the U.S. could not be reversed.

On June 1st, President Trump went ahead and withdrew the U.S. from the Paris climate accord, joining only two other nations, Nicaragua and Syria.

Climate change is real, yet this is at odds with the Trump administration. Jeffrey Immelt from General Electric, who is close to the White House, is using this to argue for policies to combat global warming. The other members of the council are:

Elon Musk from Tesla Doug McMillon of Walmart Indra Nooyi of PepsiCo Laurence Fink of BlackRock

We are starting to see them resign from the council one by one.

Companies like Intel, Johnson & Johnson, Campbell Soup and hundreds of businesses, have all addressed the effects of climate change. Sticking with the Paris Climate Agreement and its commitment to reduce carbon emissions is the only way to go.

Under Obama’s administration, the EPA’s Clean Power Plan was signed. Companies went further to fight climate change as it was the only way to preserve the future of the companies, customers, consumers and the world. To remain in the Paris Agreement and follow low-carbon policies and invest in a low-carbon economy is important, especially for those companies that have strong consumer brands.

This has led China and the EU to forge a green alliance to combat climate change. A summit of EU leaders and the Chinese’s premier, Li Keqiang has already taken place. Not only will the two sides work closely but they also agreed to help the world’s poorest countries to develop green economies.

The White House is divided on this matter but that is no longer a concern of the EU and China, as they’ve decided to proceed without the U.S.

147 nations have ratified the deal, but the departure of the U.S. may weaken the agreement, for example, Russia and India would have their own considerations now. With the U.S. out, Saudi Arabia, with its fossil fuel economy had been reluctant to sign the Paris Accord, and now would take this as a godsend, and quit as well…

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