US Formally Withdraws From Paris Climate Agreement

The United States became the first nation to withdraw from the Paris climate agreement on Wednesday.

The Paris Agreement is a 2015 United Nations deal to reduce greenhouse gas emissions with 196 signatories.  

What Happened: President Donald Trump announced his intention to withdraw from the Paris Agreeement in June 2017. UN regulations mean the decision takes effect Wednesday — the day after the U.S. election.  

On Wednesday, the outcome of the 2020 election remains unclear as vote counting continues following a flood of absentee ballots cast during the coronavirus pandemic. 

Why It's Important: Climate change remains one of the biggest global challenges. This year has been another one of extreme weather conditions, with natural disasters occurring worldwide. 

From bushfires in Australia to flooding in the U.K., the climate catastrophe is a huge issue pushing sustainable investing to the forefront.

It is possible that the U.S. could rejoin the Paris Agreement if a future president wants to opt back in. 

Related Link: How Climate Change Will Drive A Fundamental Reshaping of Finance

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