Donald Trump has been sworn in as the 47th US president. One of his first executive orders has been leaving the landmark Paris Agreement, in which nearly 200 nations agreed to jointly take action to cut the greenhouse gases fueling stronger storms, wildfires, heatwaves and catastrophic flooding.
Our CEO Helen Clarkson said:
‘’Withdrawing from the Paris Agreement for the second time while Los Angeles is still facing devastating fires is a blow to the international fight against climate change. It undermines the work of businesses and governments in the US and elsewhere towards the energy transition. While it's deeply disappointing, we’re no longer in 2017 but in 2025. International businesses and governments have long-term strategies to move away from fossil fuels, driven by opportunities in European and Asian markets where the lights are still on green. They'll push ahead because it makes economic and business sense.
Solar is the cheapest form of energy in history, the EV market is undergoing critical transformation, and battery storage is becoming cheaper. A new green power balance is forming - and the US departure just concedes ground to other countries stepping into the vacuum the US is creating. They understand it's good for communities and businesses. This move will only make the US less competitive in a global market, not more.’’