Coal Stocks Volatile As Trump Mulls Paris Climate Accord

02 June, 2017, 05:05 | Author: Cecelia Webb
  • What is the Paris climate agreement? 9 things to know

United States electric vehicle producer Tesla Motors CEO Elon Musk said in a statement on Wednesday that he would leave President Donald Trump's advisory councils if the administration decides to pull out from the 2015 Paris Climate Agreement. "Following a successful global tour and the G-7 summit in Italy, president Trump has an opportunity to relieve our nation of the unfair and economically devastating requirements of the Paris Agreement, the United Nations climate treaty he pledged to rip up during the campaign", Cruz wrote in an op-ed in CNN.

Trump has argued the climate deal would have a detrimental impact on the US economy. This is also reversing the strides former President Obama's administration made on climate change.

World leaders gathered at the 2015 United Nations Climate Change Conference, where the terms of the Paris Agreement were agreed upon.

President Donald Trump is expected to announce his decision on whether to abandon the Paris climate accord Thursday.

If we didn't know before, we now definitely know where President Trump stands when it comes to global warming and climate change.

Hatch and Lee joined 20 other Republican senators in a letter last week urging Trump to exit the Paris Agreement. If the United States withdraws from an agreement that almost 200 other countries are a part of, it would join Nicaragua and Syria as the only other countries that rejects the accord.

During a photo op with the leader of Vietnam Wednesday, President Trump was asked if he is going to pull out of the Paris climate accord.

"The Paris Agreement is proof that with shared political will and mutual trust, multilateralism can succeed in building fair and effective solutions to the most critical global problems of our time".

His appeal suggested that if the U.S., the world's biggest carbon emitter after China, was to quit the deal, the onus would be on other key players like China, India and the European Union to do more to fight global warming.

The goal proposed by Obama under the Paris Accord was for the United States to reduce greenhouse gas emissions by 26 to 28 percent, compared to the 2005 figure, by 2025, as reported in EFE.

The US could leave the UNFCCC with one year's notice, which gets it out of the Paris Agreement without having to wait until November 2020.

He called on the 196 other countries to have signed the Agreement, including Ireland, to strengthen their resolve to demonstrate the American administration's isolation on the issue of climate change.

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