But Light says the most important thing coming out of Hamburg is a strong emphasis on the decoupling of emissions growth from economic growth. One of the biggest obstacles to international climate action, he says, is the historical notion that “burning fossil fuels is how we grow economies.” [...]
The action plan also contains bold new language on financial arrangements. For example, the 19 states pledged to “strive to create an enabling environment that is conducive to making public and private investments consistent with the goals of the Paris Agreement as well as with the national sustainable development priorities and economic growth.” This is important, Light says, because “these are the countries that are the most important when you look at the votes in the big multilateral development banks around the world.” [...]
As Vox’s David Roberts wrote at the time of the announcement, Trump’s reasoning for withdrawal flies in the face of reality, and a recent analysis suggests that renewable energy is becoming so cheap that the US may meet its Paris commitments anyway. When all is said and done, pulling out from Paris, Trump’s mostly symbolic gesture to his base, will surely not be worth the undermining of America’s international standing.
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