Despite the discouraging news from the Administration to withdraw from the Paris agreement, nothing is farther from the actual exit, for two reasons:
1 – Statutory exit procedure requires 4 years to be acted, aligning perfectly with the next presidential election...and a possible reverse of Mr. Trump's decision by a new President;
2 – Risk by U.S companies of losing ground on the worldwide competition for industrial leadership in clean tech, preventing them to compete in large RFPs against European, Chinese and Indian counterparts.
US conglomerates have understood the benefits of green transitioning and have made their voices heard by the Administration following billions already invested in making their operations cleaner.
147 countries have signed the Paris agreement and 70% have ratified it by their Parliament. It came into force in November 2016, 30 days after the date on which at least 55 Parties, accounting for an estimated 55 percent of the total greenhouse gas emissions, have deposited their instruments of ratification, acceptance, approval or accession.
Although it bears the Paris name, it is not French. The superseding body is in fact the United Nations through its Framework Convention on Climate Change.
What is important to understand about the agreement is that each country is sovereign in setting its own goals to reduce green gas emissions. What is intended is to keep temperature increase under 2° Celsius by 2025.
Targets are set voluntarily and bear no penalties for non-compliance. Therefore, the agreement does not undermine the interests of the United States, like it’s been said.
The outrage in public opinion is loud and real not only in
America but throughout the world, as the consequences of failing to keep green gas emissions under control are now accepted by a vast majority of people.
The Paris agreement took 20 years in the making (Kyoto Protocol followed by the Doha Amendment and the Durban Platform).
People understand the message sent to the world when the most powerful man of the most powerful Nation fails to honor its signature and obliterates years of efforts only to satisfy its populist base.