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USA to withdraw from Paris climate agreement

President Donald Trump has announced that the US will withdraw from the Paris climate agreement and cease implementation of the accord. The Paris agreement, signed by over 190 nations in December 2015, aims to hold the increase in global average temperature to below 2 degrees celsius in order to reduce the risks and impacts of climate change. The US is currently the second biggest greenhouse emitter in the world. 

 

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Article
15 June 2017

Apple issues 1 billion dollar "green" bond after US announces withdrawal from Paris agreement

Author: IANS, Business Standard

"Climate change: Apple shows Trump the way, issues $1 bn 'green' bond", 14 Jun 2017

To bolster its efforts to help the environment along with signalling the US President Donald Trump that global tech companies still care for climate, Apple has issued its second "green" bond valued at $1 billion. Combined with Apple's $1.5 billion "green" bond issued last year to run 100 percent of its operations on renewable energy, the new offering would make Apple the single-largest US dollar-denominated issuer in the market, Fortune reported on Tuesday."Leadership from the business community is essential to address the threat of climate change and protect our shared planet," Lisa Jackson, Apple's vice president of environment, policy, and social initiatives...said in a statement....The announcement comes after Trump announced the US will pull out of the Paris climate accord. The move was opposed by Apple then. Apple, including Microsoft and Facebook, sent a letter to Trump opposing the Paris accord move by the US...Globally, the green bond market may exceed $200 billion this year, more than double the $93 billion in issued in 2016.

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Article
15 June 2017

Carlsberg announces ambitious sustainability goals in wake of Trump climate change decision

Author: Miranda Wadham, The Investment Observer

International brewer Carlsberg announced a host of ambitious sustainability targets on Tuesday, driven by US President Donald Trump's decision to withdraw from the Paris climate change agreement. Called "Together Towards ZERO", the brewer's plans include aiming for zero carbon emissions at its breweries by 2030 and the 100 percent use of renewable electricity at its breweries by the year 2022. Achieving this will include closing down small coal power stations at breweries in China, India and Poland, instead using renewable energy sources such as solar panels, and halving the company's water usage by 2030...Carlsberg said they worked with Carbon Trust to lay out their plans, which were welcomed by Carbon Trust chief executive, Tom Delay: "Carlsberg has taken a genuine leadership position on some of the most critical environmental issues the world currently faces by developing an ambitious long-term business strategy that focuses on delivering a sustainable future," Delay added.

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Article
13 June 2017

Paris climate accord divides industrial trade group

Author: Dino Grandoni, Washington Post (US)

The Eastman Chemical Company -- one of the largest chemical manufacturers in the United States, which like many U.S. firms supported the Paris climate accord -- discontinued membership in one of the few trade groups that publicly pressed the Trump administration to pull out of the landmark climate deal. Leading up to President Trump's announcement in June, hundreds of businesses publicly pledged support of the Paris accord. But more discreetly, the Industrial Energy Consumers of America told the White House that Paris disadvantaged U.S. manufacturers..."While we valued the IECA's work in areas unrelated to climate change, the organization's action is so at odds with Eastman's position that we also cannot reconcile continued participation in IECA with our commitment to sustainability...As such, this week we discontinued our IECA membership." David A. Golden, a senior vice president and chief legal and sustainability officer at Eastman, wrote to the Business and Human Rights Resource Centre....[which] queried Eastman and other IECA members about their Paris stance following IECA's lobbying effort...Eastman's decision to leave the trade association highlights the rift that has developed in the American business community over Trump's decision to exit the Paris accord...Owens Corning [also] distanced itself from the trade group after the Paris decision, [as did International Paper]. SABIC...also said that it "did not review or approve" the IECA letter sent directly to President Trump. [refers to Alphabet, Apple, Eastman, Gap, International Paper, Levi-Strauss, Owens Corning, SABIC, Shell, Unilever, Walmart]

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Article
6 June 2017

Group representing $6.2 trillion of the US economy says they're 'still in' the Paris climate agreement

Author: Madeleine Sheehan Perkins, Business Insider

A coalition of US economic, education, and local government leaders...will continue to abide by the Paris agreement regardless of America's withdrawal, forming the We Are Still In movement. The coalition represents 120 million Americans and $6.2 trillion of the US economy...The group includes 125 cities, 9 states, 902 businesses and investors, and 183 colleges and universities. Over 20 of the businesses who signed on are Fortune 500 companies...and signatories include Apple, Google, Tesla, Target, eBay, Lyft, Adidas, Facebook, and Nike, among others...The group declared it will pursue climate goals, "in the absence of leadership by Washington," adding "it is local and state governments, along with businesses, that are primarily responsible for the dramatic decrease in greenhouse gas emissions in recent years. Actions by each group will multiply and accelerate in the years ahead, no matter what policies Washington may adopt." [An open letter to the international community and full list of participating business and investors is available here] [refers to Adidas, Apple, eBay, Facebook, Google, Lyft, Nike, Target, Tesla]

 

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Article
2 June 2017

Tesla & Disney's CEOs quit Trump's business panel over Paris pullout

Author: Dominic Rushe, The Guardian (UK)

Two of the US's biggest business leaders, Tesla founder Elon Musk and Disney's Robert Iger, have quit Trump's high-powered business advisory panel after the president pressed ahead with plans to pull out of the Paris climate accord...The two defections...leave a lot of other people on Trump's high-powered business council in a very awkward position given their own, and their companies', views on Paris and climate change. Jamie Dimon – chairman, president, and CEO of JPMorgan Chase...is no fan of regulation but even he clearly thinks some is necessary, especially when it comes to the environment. "Some regulations quite clearly create a common good (e.g. clean air and water)," he wrote in his 45-page letter to shareholders this year...The billionaire founder of investment group Blackstone is literally Trump's right hand man on the council...But Schwarzman too is out of step with Trump and believes climate change is real...BlackRock, an investment manager that overseas $5tn in assets, has become increasingly vocal about its concerns on climate change. Exxon, Occidental Petroleum and PPL...have all been forced to be more transparent about the impact of climate change on their businesses after pressure from BlackRock...

[also mentions: PepsiCo, Coca-Cola, Walmart, IBM, General Motors, Goldman Sachs]

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Article
2 June 2017

Venture investors blast US decision to withdraw from Paris Climate Accord

Author: Jonathan Shieber, techcrunch.com

Several investors have come out swinging against President Trump’s decision to withdraw from the Paris Climate Accord..."We should all agree that advanced energy technologies represent one of the biggest economic opportunities. To give that up is a threat to American prosperity” said General Catalyst managing director Hemant Taneja..."“Withdrawing the U.S. from the Paris agreement is only going to galvanize cleantech entrepreneurs to work three times as hard to address the dangers of climate change and this presidency” said Steve Vassallo, a general partner with Foundation Capital (an investment firm with $2.4 billion under management)...While investors decried the decision, they admitted that their companies were already prepared for it. [refers to Salesforce.]

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Article
2 June 2017

‘Climate Change Is Real’: Many U.S. Companies Lament Paris Accord Exit

Author: Daniel Victor, The New York Times (USA)

Soon after President Trump announced that the United States would back out of the Paris climate accord, several large companies based in the United States that had supported the international pact said they were disappointed by the decision and would continue their environmental efforts. And two chief executives who sat on Mr. Trump's economic advisory council — Elon Musk and Robert A. Iger — said they were leaving that group because they disagreed with the exit from the Paris agreement. While Mr. Trump said the decision to exit the deal was made to protect American jobs — a contention that environmental groups have disputed — some large companies had urged the president to stay in the accord...[on the other hand] Murray Energy...one of the largest coal-producing companies in the country and a prominent supporter of Mr. Trump, praised the decision. The chief executive, Robert E. Murray, said in a statement: « We applaud President Trump's steadfast leadership and his delivery on this important campaign commitment »...

[also mentions : Tesla, Disney, General Electric, Facebook, Twitter, Google, Goldman Sachs, Apple, Microsoft, Amazon, Uber, IBM, Peabody Energy, Cargill]

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Article
1 June 2017

25 American firms, including Apple, Facebook & Google urge Donald Trump not to pull out of Paris Agreement

Author: Miles Dilworth, The Independent (UK)

Twenty-five of the world's biggest corporations have made a last-minute pitch to President Donald Trump urging him not to reconsider plans to withdraw the United States from a landmark international agreement on climate change. Companies including Apple, Facebook, Google, Microsoft, Unilever and Morgan Stanley have signed a letter imploring Mr Trump not to exit the 2015 Paris climate accord, as he promised to do during his presidential campaign...The letter follows Tesla CEO Elon Musk's suggestion that he would quit his advisory role on a White House business council if Mr Trump chose to exit the deal...According to the letter, the Paris Agreement creates jobs and growth by "expanding markets for innovative clean technologies", while "strengthening competitiveness" and reducing the potentially harmful impact that future climate change may have on business....On Wednesday, Bloomberg reported that oil giant Exxon Mobil had also urged Mr Trump to keep the US signed up to the accord...In April, a group of 16 companies, including Shell and Walmart, also signed a letter to Mr Trump expressing their support for the US's continued participation in the agreement. [refers to Adobe Systems, Apple, Blue Cross, Exxon Mobil, Facebook, Google, Hewlett-Packard, Ingersoll-Rand, Intel, Levi Strauss, Mars, Microsoft, Morgan Stanley, National Grid, PG&E, Salesforce, Schneider Electric, Shell, Tesla Motors, Tiffany, Unilever, VF Corp, Walmart]

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Article
1 June 2017

Effects of US pullout from Paris climate deal

Author: Matt McGrath, bbc.com, Published on: 1 June 2017

President Trump's withdrawal will make it more difficult for the world to reach the goals that it set for itself in the Paris agreement...One of the strongest voices in favour of the US staying in the Paris deal has been corporate America. Leaders of companies such as Google, Apple and hundreds of other including major fossil fuel producers such as Exxon Mobil have urged the President to stick with Paris...[Even with exiting the agreement] coal is unlikely to make a comeback...[as] the number of jobs in the US coal industry is now just a half of the number employed in solar...US carbon will continue to drop...because energy production is now powered more by gas than by coal.

 

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Article
1 June 2017

Exxon urges Trump to keep US in Paris climate accord

Author: Ed Crooks, Financial Times, Published: 28 March 2017

ExxonMobil, the largest American oil group, has written to the Trump administration urging it to keep the US in the Paris climate accord...arguing that the Paris accord is “an effective framework for addressing the risks of climate change”...[The letter cites] several reasons for the US to stay in the Paris accord, including the opportunity to support greater use of natural gas, which creates lower carbon dioxide emissions than coal when burnt for power generation. Several other large international oil companies, particularly in Europe, have also backed action to address climate change that could benefit them by boosting demand for gas. 

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