Donald Trump expected to remove U.S. from the Paris Climate Accord
President Donald Trump is expected to remove the U.S. from the Paris Climate Change Accord imminently. After months of internal division within his administration – his daughter Ivanka, and secretary of state Rex Tillerson want to stay in; White House strategist Stephen Bannon and environmental protection agency administrator Scott Pruitt are opting to leave – the President made the following Twitter announcement yesterday: “I will be announcing my decision on the Paris Accord over the next few days. MAKE AMERICA GREAT AGAIN!”
SOURCE: The Washington Post
If the President chooses to remove the U.S. from the Paris Accord, it will join just two small countries – Syria and Nicaragua – on the outside of the agreement. It will also make 18% of the world’s present-day greenhouse gas emissions non-compliant with the Paris Accord. Experts worry that this could quickly accelerate the progress of global warming towards ‘crisis point’ and that it could weaken the commitment of other nations to the agreement.
Trump has already reversed some of his predecessor’s commitments on climate change. He has also faced robust lobbying from groups on either side of the debate. This latest threat to the U.S.’s continued participation in the agreement has brought a number of advocates for remaining within it to the fore. Internationalists, like Tillerson, argue that leaving the Accord will diminish the U.S’s “soft power”; companies like BP and Exxon have urged the President to remain within the Accord; high profile technocrat Elon Musk has publicly threatened to resign his White House advisory roles if Trump opts to leave.
In the event that Mr. Trump does choose to leave the Accord, he will be hamstrung by a three-year minimum membership, which means he will be unable to withdraw fully until the latter days of his presidency.
Dominion holds a number of companies in its Global Trends Managed Fund that are directly involved in providing solutions to the systemic threats caused by climate change.
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