Published: Thu, June 01, 2017
Money | By Armando Alvarado

Facts About the Paris Climate Agreement


If President Donald Trump pulls the United States out of the Paris climate agreement, it likely won't be a quick, overnight process.

Mitt Romney, the 2012 Republican presidential nominee who Trump considered for secretary of state, said on Twitter that affirmation of the Paris agreement "is not only about the climate: It is also about America remaining the global leader".

German Chancellor Angela Merkel on Sunday called the climate change talks in particular "very unsatisfactory".

Mr Trump, who in a November 2012 tweet dismissed climate change as a hoax, pledged during his election campaign to "cancel" the accord within 100 days of becoming president to boost America's coal and oil industries. But what's really stupid about it is they're throwing out the economic opportunities that being part of the Paris agreement provide for the United States.

For the first time, Paris Agreement brings all countries of the world into a common cause to undertake ambitious efforts to combat climate change and adapt to its effects.

When asked about the U.S.'s possible move Thursday, a spokesperson for China's Ministry of Foreign Affairs described climate change as a global challenge that no one country can ignore.

"The Paris Agreement was signed by 196 countries and is the backbone of worldwide action to tackle the greatest challenge facing our civilization: climate change". Scientists have determined that the planet is already around one degree Celsius warmer compared to what it was at that time, and in the coming decades emissions could make the planet warmer by 1.5 degrees Celsius.

They said the deal would require the United States government to regulate greenhouse gas emissions, which would hurt business.

Most major American businesses - from Apple to General Motors to Exxon - support the agreement.

"The Paris accord is a political agreement".

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Is there a quicker way to exit the Paris Agreement?

Here are five things to know about the agreement.

Paris Agreement was opened for signature on April 22, 2016 (Earth Day) at the United Nations headquarters on NY. So far, 147 out of the total 197 parties to the Paris Convention have ratified the Agreement, according to UNFCC.

"We wish to work with the European Union to strengthen our communication and practical cooperation in climate change", Hua said.

A few hours later he tweeted that he will make the announcement at 3 p.m.

A source briefed on the matter told Reuters that Trump is planning to follow through on his campaign pledge to pull the United States out of the Paris accord, a move created to help boost domestic energy production and speed economic growth, after weeks of deliberations on the issue. However, the efforts to persuade Trump failed.

"You know that President (Vladimir) Putin signed this convention, Russian Federation pays a lot of attention (to that)", Peskov said.

President Donald Trump intends to make good on his campaign vow to withdraw the United States from a global pact to fight climate change, a source briefed on the decision said Wednesday, a move that promises to deepen a rift with USA allies.

The Democrat said Wednesday that plans for an worldwide climate summit in Boston planned for later this year have stalled because of lack of support from the Trump administration. "It will also be a major geopolitical and reputational blow for the US", said Li Shuo, climate analyst for Greenpeace China.

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