HomeIndustry SectorsFinance and PolicyPresident Trump ducks out of global climate agreement

President Trump ducks out of global climate agreement

On Thursday, the US President, Donald Trump, announced that the US state has withdrawn its participation in the 2015 global Paris agreement to fight climate change.

President Trump on climate change

One of the largest producers of greenhouse gases in the world, Trump emphasised the economic damage that such an agreement will have on the American nation.

According to Reuters, the President said the Paris agreement would cost jobs, weaken American national sovereignty and put the country at a permanent disadvantage to the other countries of the world.

Reuters cited Trump: “We don’t want other leaders and other countries laughing at us any more. And they won’t be.

“The same nations asking us to stay in the agreement are the countries that have collectively cost America trillions of dollars through tough trade practices and in many cases lax contributions to our critical military alliance.” Read more…

However, Reuters reported that Trump will consider negotiations to re-enter the Paris accord or to have a new agreement “on terms that are fair to the United States, its businesses, its workers, its people, its taxpayers.”

US nuclear generation

In other news, Nuclear electric power generation company, Exelon, said earlier this week that it “will prematurely retire its Three Mile Island Generating Station (TMI) [in Pennsylvania] on or about September 30, 2019,” if there are no policy reforms.

Exelon said in a statement: “Absent policy reforms, the loss of Pennsylvania nuclear plants would increase air pollution, compromise the resiliency of the electric grid, raise energy prices for consumers, eliminate thousands of good-paying local jobs and weaken the state’s economy.

“Despite producing 93% of the Commonwealth’s emissions-free electricity and avoiding 37 million tonnes of carbon emissions — the equivalent of keeping 10 million cars off the road every year — nuclear power is not included in the state’s Alternative Energy Portfolio Standard (AEPS). Yet 16 clean power sources including solar, wind and hydro energy are supported by this state energy policy.”

The firm added: “Amending the AEPS is one of many potential solutions to preserve Pennsylvania’s nuclear plants. Other options include establishing a zero emissions credit programme, similar to the approach being implemented in Illinois and New York.

“Exelon is committed to working with its stakeholders to find the best solution for Pennsylvania — one that will maintain nuclear energy’s $2 billion annual contribution to the state’s economy and its approximately 16,000 direct and indirect Pennsylvania jobs.”


Featured image: CNN

Ashley Theron
Ashley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa.