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cashgazette.com June 28, 2017


Japan says US withdrawal from global climate pact 'regrettable'

02 June 2017, 10:38 | Miranda Porter

German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang give a joint press conference in Berlin

German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang give a joint press conference in Berlin

Separately, Goldman Sachs CEO Lloyd Blankfein - whose firm has served as a breeding ground for key Trump administration allies like Gary Cohn and Treasury Secretary Steve Mnuchin - blasted the president's move as a "setback" for climate change efforts.

"Even with the Trump administration in place, the global trend is toward renewable energies is continuing - including in the United States", Höhne says.

President insisted the accord puts the U.S.at a great disadvantage, and will cost the US economy what he called a vast fortune.

Chief executive Odd Arild Grefstad cited the growth of renewable energy in US states such as Texas, New York and California as signs "the world has started the transition from fossil to a renewable economy".

In an interview on Thursday, the president of the World Coal Association, Benjamin Sporton, told Reuters that he had mixed feelings about Trump's announcement, adding he was eager to see a USA policy that actively promotes a place for coal in the global energy mix.

Trump was correct when he said the Paris treaty will have an insignificant impact on global temperatures, even if every nation on earth meets its non-binding emission reduction targets.

Hours after Trump's announcement, Pittsburgh's mayor took to the airwaves to highlight the potential for grassroots climate change action by communities across the country.

It was also consistent with his pledge during the USA presidential election campaign to withdraw from the global climate treaty.

"Please don't change the (political) climate for the worse", European Council President Donald Tusk tweeted.

Trump's pledge to move the U.S. Embassy in Israel to Jerusalem remains unfulfilled, at least for now.

But Ms Merkel issued a joint statement alongside French President Emmanuel Macron and Italian Prime Minister Paolo Gentiloni that said the agreement could not be re-negotiated. "The effects are already visible in all parts of our planet". He denounced the deal during a White House ceremony much as he did on the campaign trail, delivering a dark, nationalist tirade and relying on discredited studies to characterize the agreement as a jobs-killer that would make American manufacturing less competitive, raise costs for consumers and lead to electrical outages.

Donald Trump recently spent his first trip overseas as president offending our country's friends and allies, and now that he is back home, he's only stepping it up.

But under the current agreement, he said, the U.S. was getting laughed at for being taken advantage of.

And their sentiments are shared by many others within the United States, from statehouses to corporate America.

So far, no other states have signed on to the alliance, though 61 American mayors also pledged on Thursday that their cities will uphold the tenets of the Paris Climate Agreement. Twenty-five companies, including technology giants Apple, Facebook and Google, took out an advertisement in major newspapers on 1 June arguing that exiting the Paris accord would harm U.S. economic competitiveness. And it's worth noting that he said "United States federal government" and not "Trump" or "the United States".



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