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Paris Climate Agreement Good Or Bad

The World Economic Forum`s climate initiative supports the scale and acceleration of the fight against climate change through cooperation in the public and private sectors. The initiative is working to develop and implement inclusive and ambitious solutions in several work processes. The 1992 United Nations Framework Convention on Climate Change has defined a broad legal structure for global cooperation, which should give more specificity to future agreements. Paris has done nothing of the way. Whether they are conventional fuel companies or renewable companies, the best way for U.S. companies to compete is to be innovative and competitive in the marketplace and not base their business models on international agreements. The countries most affected by the effects of climate change will be low-lying nations, particularly vulnerable to sea level rise, and developing countries that do not have the resources to adapt to changes in temperature and precipitation. But prosperous nations like the United States are also increasingly vulnerable. In fact, millions of Americans – especially children, the elderly and the poor – are already suffering from the wrath of climate change. The American people believe in climate change – and they are determined to address it. Even as President Trump continues to ignore the growing climate crisis, businesses are increasingly taking action and voice for ambitious policy. While it has been made clear once again that they will not see these political ambitions at the federal level this year, it is equally clear that we must act now to have a chance of keeping global warming at a maximum of 1.5 degrees Celsius, as the IPCC Special Report shows. Companies are ready to work with leaders in the United States and around the world to accelerate climate ambitions and measures and achieve the goals of the Paris Agreement for the benefit of their businesses and the global economy.

The Trump administration has sued current Gov. Gavin Newsom and others over California`s agreement with the Canadian province of Quebec to establish a CO2 emissions trading system. Under the Trump administration, the Environmental Protection Agency is also trying to block California`s stricter car emission standards, a fight that is likely to also be brought to justice. Neither argument is a compelling reason to stay in the agreement. In refuling the agreement, Trump has removed a major hurdle to reach the 3% economic growth that America is used to achieving. The authors of the agreement have set a withdrawal period that President Trump must follow – which prevents him from irreparably harming our climate. Our reduction in emissions comes largely from new and innovative private sector technologies – not international agreements or criminal rules. The signatories agree that accelerating the transition to a carbon-free economy will contribute to growth and innovation. A report by the New Climate Economy shows that the transition to a low-carbon economy could generate $26 trillion in growth and 65 million new jobs by 2030. On the other hand, the U.S. government`s national climate assessment released last year found that unchecked climate change could cost the United States hundreds of billions of dollars a year by the end of the century.

Looking for a glimmer of air in the unseely UN climate report? Here we can determine the effects of climate change through the political, economic and social choices we are making today. At the same time, leaders see climate change as a major strategic concern for them, but they continue to move forward, set and pursue ambitious climate goals to strengthen their own risk management and increase competitiveness and growth as they look to the future.


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