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Business and Government Reject Trump's Exit from the Paris Climate Deal

The business community, investors, states, and cities are pushing back against the Trump administration's reckless disregard for climate change. Prior to Trump's decision to abandon the Paris Accord they specifically warned him to stick to the agreement. Trump claims that he withdrew from Paris to protect American companies, cities, and states. However, companies, cities, and states think the president's decision is doing them more harm than good.

Many CEOs, governors, and mayors think that Trump is misguided. This is not partisan politics they are genuinely concerned that Trump's decision to withdraw from the Paris deal will put US companies at a disadvantage.

Last year it became clear that businesses support the climate deal. Dozens of corporations including Apple, Morgan Stanley and Royal Dutch Shell all told Trump to stick with Paris. In May, Bloomberg reported business groups, "including 280 investors representing more than $17 trillion in assets released a statement saying climate change must be an urgent priority for all G-20 nations."

The president has spoken but states and companies don't share his assessment. Instead, they are rallying in support of the Paris agreement. As reported by the Washington Post states and companies are ignoring Trump and moving ahead with a coordinated effort in support of the climate deal.

"Thirty states and scores of companies said Thursday that they would press ahead with their climate policies and pursue lower greenhouse gas emissions, breaking sharply with President Trump’s decision to exit the historic Paris climate accord."

Many states have renewable energy standards in place and they have no intention of letting them go. New York Gov. Andrew M. Cuomo went one step further by committing to invest $1.65 billion in renewable energy and energy efficiency. California is committed to getting all of its energy needs from renewable sources.

Companies like Apple, Amazon, Facebook, Ford, Google and Microsoft all contradict Trump's narrative and see the accord as enhancing American competitiveness, innovation and job growth. Even energy companies disagree with Trump and support the accord. This includes Berkshire Hathaway Energy, Calpine Corp., Exelon Corp., General Electric, PG&E Corp. and Royal Dutch Shell

More than 350 major corporations sent a letter to Trump including DuPont, General Mills, and Schneider Electric signed a letter asking President Trump to stick to the Paris agreement.They all know that Trump's decision is bad for business. We have seen tremendous growth in green tech including prodigious growth in the renewable energy sector. Paris gives renewables a big push.

Elon Musk, chief executive of Tesla, and Robert Iger, chief executive of Disney, both resigned from the president’s advisory council after the announcement. Lloyd Blankfein, chief executive of Goldman Sachs, tweeted that Trump’s decision “is a setback for the environment and for the U.S.’s leadership position in the world.”

Some business leaders see Trump's decision to exit Paris as a positive that has accelerated the pace. As reported by Energy Manager Today, Paul Polman, CEO of Unilever said Trump might have "done us a favor; that we’re moving faster now than we otherwise might have been." Polman reportedly told CNBC he respects Musk and Iger decision. He further said that he hope those remaining on the council will champion sustainability from within the White House.

Polman explained that there are $12 trillion worth of untapped business potential through 2030 if companies take sustainability seriously.

Trump is becoming increasingly irrelevant for many business, cities, and states. If anything Trump's decision has spurred a wave of climate action. America's allies see Trump as a fool and they are bypassing him altogether. The EU is now working directly with US business leaders and state governors to implement the historic accord’s commitments.

China is working directly with California and other states moving the clean economy forward.

German chancellor, Angela Merkel said Trump “can’t and won’t stop all those of us who feel obliged to protect the planet”. The Guardian reports that Merkel indicated her willingness to work with other partners including US companies who were supportive of the deal. Even India has been emboldened by Trump's abdication. Indian energy minister, Piyush Goyal, said: “India’s resolve to take up the leadership of saving the planet from climate change while others abrogate their leadership.”

In announcing his decision to withdraw Trump said, "I was elected to represent the citizens of Pittsburgh, not Paris." People in Pittsburgh were incensed when Trump suggested that he was quitting the accord for their city. Pittsburgh has a thriving green tech economy. As revealed in this video many Pittsburghers did not appreciate the president's comments.


Here is a video of some of the remarks of prominent corporate leaders who have criticized President Trump for withdrawing from Paris Accord.


Finally here is Virgin Group founder Richard Branson's reaction to Trump's decision in an interview with Bloomberg's Cory Johnson:



This post first appeared on The GREEN MARKET ORACLE, please read the originial post: here

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Business and Government Reject Trump's Exit from the Paris Climate Deal

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