Trump’s exit from Paris Agreement ‘threatens’ future of renewable energy

Sub: Env

Sec: Int Conventions

Context:

On the first day of his second Presidency, Donald Trump signed an executive order to withdraw the United States from the 2015 Paris Climate Agreement.
The Paris Agreement is a global treaty aimed at limiting global warming to well below 2°C, ideally to 1.5°C above pre-industrial levels, by reducing global greenhouse gas emissions.

Previous Attempt to Withdraw:

In 2016, following Trump’s election victory, he expressed his intent to pull out of the Paris Agreement. However, the S. did not formally exit due to the specific rules of the agreement, which did not allow immediate withdrawal.
The S. can now exit within a year of officially notifying the United Nations, which Trump did on his first day in office during his second term.

Implications of U.S. Withdrawal:

The U.S. is the second-largest emitter of greenhouse gases in the world. Its withdrawal from the agreement could hinder efforts to reduce global emissions and combat climate change.
Despite the formal withdrawal, S. representatives have actively participated in climate discussions and conferences.
Experts are concerned that under Trump’s leadership, the S. may prevent its representatives from participating in future climate negotiations, which could affect global climate diplomacy.

Impact on Renewable Energy and Investment:

Trump has been a strong supporter of oil and gas drilling, which poses a challenge to global renewable energy development.
Experts are concerned about a reduction in investments in renewable technologies, especially from multilateral organizations such as the World Bank, where the U.S. holds significant influence.
The withdrawal of U.S. support could lead to decreased climate financing, especially for developing countries that depend on international funds for clean energy development.

Environmental Consequences:

Experts warn that the Trump administration’s policies, including promoting fossil fuel industries, could lead to exploitation of sensitive ecological regions.
For example, Alaska and other fragile ecosystems could face further environmental degradation, negatively affecting global climate stability and biodiversity.