Americans Can Breathe a Huge Sigh of Relief! Trump Missed the Fine Print, He Doesn’t Have the Authority to Withdraw from the Paris Agreement.
Political Voice 4th June 2017 read more »
Donald Trump claims to be defending US jobs and industry by abandoning the international effort to tackle climate change. US multinationals have rushed to disassociate themselves from his decision. From Silicon Valley to Wall Street, from industrial champions such as GE and General Motors to consumer goods companies, there has been unanimous condemnation and a declaration of intent to press ahead with clean energy initiatives. Even the oil majors urged Mr Trump to stick to the course. Although only two executives – Tesla’s Elon Musk and Walt Disney’s Bob Iger – have gone so far as to resign from presidential advisory boards, perhaps fearing a backlash from environmentally conscious customers, the outspoken criticism from such a wide swath of the corporate community is remarkable. It reflects both distaste for the direction of US policy and the degree to which withdrawal from the Paris ac cord threatens commercial self-interest. Some fear a loss of opportunity. Green industries are increasingly able to prosper without subsidies. But if renewable energy and other forms of clean technology are to be global growth industries, countries with predictable, pro-renewable regulation and incentives to innovate will give their private sectors a competitive edge.
FT 8th June 2017 read more »