wnol.info May 20 2018

EU, China to reaffirm support for climate pact

May 20 2018, 05:14 | Alexander Lowe

EU, China to reaffirm support for climate pact

EU, China to reaffirm support for climate pact

Carbon reduction targets that the USA set under Paris commitment aimed at reducing emissions by 26-28% in a decade.

May other United States allies expressed alarm at US' decision to back out, with leaders of France, Germany, and Italy noted with regret Trump's decision to do so.

She added that the global climate would "survive" Trump's maximum presidential term of eight years.

Beijing's emphatic support for the Paris deal comes as the world's second-largest economy promotes itself as a champion of globalisation, capitalising on Trump's inward-looking stance on trade and foreign policy.

At an election campaign event in York, he said: "Given the chance to present a united front from our global partners she (Mrs May) has instead opted for silence and once again subservience to Donald Trump".

Jeremy Corbyn, the Labour leader, earlier accused May of a "dereliction of duty to our country and our planet" for failing to issue a stronger condemnation. Shortly after the president's speech, which included the statement, "I was elected to represent the citizens of Pittsburgh, not Paris".

Even in states that may not unanimously join the Alliance, mayors of cities right across the U.S. have come out to say that they too will keep their promises.

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In 2015, there was a huge worldwide deal to do something about climate change. OPEC and 10 other countries led by Russian Federation agreed last week to extend for nine months, to March, a production cut of 1.8 million barrels a day initially agreed on in November.

However, his decision to pull the US from the voluntary agreement isolates the country from most of the rest of the world.

The Democratic-led states of California, New York and Washington also asserted their opposition to the president's move, pledging to uphold the global accord's goals to reduce greenhouse gas emissions that contribute to global warming. Facebook founder, Mark Zuckerberg also slammed this decision and shared his thoughts on climate change.

Despite the decision by the United States, the second biggest polluter after China, to pull out of the deal, many analysts suggest the shift to a low-carbon economy is now unstoppable, with renewable prices tumbling and new clean technology being developed and deployed. Former US president Barack Obama, whose deal with China was instrumental to forging the Paris agreement, accurately assessed Trump's move by calling it a "rejection of the future".

"Today, the future livability of our planet was threatened by President Trump's careless decision to withdraw the United States from the Paris Agreement", DiCaprio wrote on Facebook.

"While the USA decision is disheartening, we remain inspired by the growing momentum around the world to combat climate change and transition to clean growth economies", said Canadian Prime Minister Justin Trudeau.

China's overseas investment in renewable energy deals exceeding $1 billion each soared 60 percent to $32 billion in 2016, according to the US-based Institute for Energy Economics and Financial Analysis, which expects the trend to continue.

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