World leaders, investment funds and energy magnates promised Tuesday to devote new money and technology to slow global warming at a summit in Paris that President Emmanuel Macron hopes will rev up the Paris climate accord that U.S. President Donald Trump has rejected.
Trump wasn’t invited to the event but his name was everywhere.
One by one, top world diplomats, former California governor Arnold Schwarzenegger, business leaders like Michael Bloomberg and even former U.S. Secretary of State John Kerry insisted that the world will shift to cleaner fuels and reduce emissions regardless of whether the Trump administration pitches in or not.
Central to Tuesday’s summit was countering Trump’s main argument that the 2015 Paris accord on reducing global emissions would hurt U.S. business.
Macron, a 39-year-old former investment banker, argues that the big businesses and successful economies of the future will be making and using renewable energy instead of pumping oil.
“The (Paris) agreement is fragile … we’re not moving fast enough,” Macron said. “It’s time to act and move faster and win this battle” against climate change.
Macron’s office announced a dozen international projects emerging from the summit that will inject hundreds of millions of dollars in efforts to curb climate change.
The projects include a program for eight U.S. states to develop electric vehicles, an investment fund for the hurricane-hit Caribbean and money from Bill Gates’ foundation to help farmers adapt to climate change.
“The United States did not drop out of the Paris agreement. Donald Trump got Donald Trump out of the Paris agreement,” Schwarzenegger said.
The projects also aim to speed up the end of the combustion engine to reduce the emissions that contribute to global warming. With that aim, World Bank President Jim Yong Kim announced that his agency would stop financing oil and gas projects in two years, except in special circumstances for…