Trump's climate decision under fire from business leaders

Trump's climate decision under fire from business leaders

There has also been criticism of Trump from other world leaders, including Canada's Justin Trudeau, business leaders including Tesla's Elon Musk, and from many American politicians.

"It's an important global agreement on climate change", May said Friday.

The organisation, which represents $12trn of AUM, said it urges the Administration to reconsider, stating the move would slow progress to tackle climate change.

Trump, who has called climate change a hoax, said his administration would begin negotiations either to re-enter the Paris accord or to have a new agreement "on terms that are fair to the United States, its businesses, its workers, its people, its taxpayers".

But Britain did not sign a joint statement by the leaders of Germany, France and Italy, who said they regretted Trump's decision and insisted that the accord can not be renegotiated.

"Even if the Paris Agreement were implemented in full, with total compliance from all nations, it is estimated it would only produce a two-tenths of one degree Celsius reduction in global temperature by the year 2100", Trump said.

May's Downing St. office would not say whether she had been asked to sign it.

"France believes in you, the world believes in you", he told the US.

The recently elected centrist leader changed Trump's catchphrase, and said, "Make our planet great again".

"The rest of the world applauded when we signed the Paris Agreement - they went wild; they were so happy - for the simple reason that it put our country, the United States of America, which we all love, at a very, very big economic disadvantage", he said.

Yet other governments with smaller economies than the US have invested significant amounts too.

Leaders in the Golden State responded immediately by saying, essentially, that we will abide by the accord anyway. Gov. "Industry must now lead and not depend on government", tweeted General Electric CEO Jeff Immelt.

Democrats also blasted Trump.

The 2015 Paris Accord promised to cut greenhouse gas emission by at least 26% compared to 2005 levels. The United States accounts for more than 15 per cent of total worldwide greenhouse gas emissions, second only to China.

The climate agreement, which was finalised in 2015, was created to deal with greenhouse gas emissions mitigation, adaptation and finance, and was crucial in dealing with global warming.

"I call on them, come and work here with us, to work together on concrete solutions for our climate, our environment".

Previous year was the warmest since records began in the 19th Century, as global average temperatures continued a rise dating back decades that scientists attribute to greenhouse gases. And since the United States can not insulate itself from the effects of global climate change, it would also face an array of environmental and environment-related threats.

Salesforce CEO added his voice to the "this is bad and we think a carbon neutral cloud is a fine idea" chorus.

And the response from fossil fuel groups with the most to gain from a relaxation of U.S. carbon emissions standards was muted.

"We must continue to resist global climate change through continuing our commitment to clean energy and other green technology".

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