The US withdrawal from the Paris Climate Agreement puts both the environment and the economy at grave risk.

In November 2016, the Paris Climate Agreement came into force, meaning governments that had ratified the accord now had an obligation to reduce human impact on climate change. But on June 1, President Donald Trump announced that the United States would “cease all implementation” of the agreement, seeing it as a financial disinterest. As the second largest greenhouse gas emitter in the world, this withdrawal could be detrimental to the environment and even put the US behind China in economic profit on renewable resources.

Trump believes the Paris accord would only harm the US economy, specifically oil and coal businesses. But many industrial companies argue otherwise. New technology that uses natural energy resources aims to reduce carbon emissions and is a rising industry. Companies such as General Electric and Exxon Mobile have expressed their support for the climate change agreement, along with PG&E and National Grid, who believe the US removal could limit national business opportunities.

Despite the US decision to leave the accord, China, the leader in greenhouse gas emissions, will stay committed. The Chinese have taken action on their infamously polluted air and are using new technologies to improve current conditions in urban cities. They have set a plan to increase wind output and solar production, and are implementing new nuclear power plants to meet their emissions target.

China is profiting from the production of desired renewable resources, simultaneously promoting a healthier future, while the US lingers on investments of the past.

The views expressed in this article are the author’s own and do not necessarily reflect Fair Observer’s editorial policy.

Photo Credit: Andy Parker