Today, the Trump Administration officially left the Paris Climate Agreement. And in exactly 77 days, a Biden Administration will rejoin it, Biden tweeted on Wednesday night, reflecting his decision to reverse one of the key policies of the Trump administration on day one.
The US, under the Obama administration, had acceded to the Paris Agreement in 2016. It was a signature achievement of the Obama administration.
The Paris accord committed the US and 187 other countries to keeping rising global temperatures below 2C above pre-industrial levels and attempting to limit them even more, to a 1.5C rise.
Trump argues that the agreement is disadvantageous for the US, while it gives benefits to countries like China, Russia and India. According to him, it could be economically detrimental and cost 2.5 million Americans their jobs by 2025.
The decision by the US -- one of the world's biggest emitters of greenhouse gases -- to quit the agreement has led to condemnation from environmentalists and expressions of regret from world leaders.
Biden has proposed a USD 5 trillion plan to combat climate change.
The US is the second leading producer of all carbon dioxide emissions globally, behind China.
President Trump originally announced his intention to withdraw from the agreement in 2017 and formally notified the United Nations last year. The US exited the pact after a mandatory year-long waiting period that ended on Wednesday.
The US is the only country to withdraw from the global pact. It can still attend negotiations and give opinions, but is relegated to observer status.
Trump had stated that he intended to renegotiate the details of the US' membership within the Paris Agreement that can better protect US workers in industries like coal, paper, and steel.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.