United States Formally Exits Paris Climate Accord

The United States has officially withdrawn from the Paris climate accord on 04 November 2020. With this, the US has now become the only country to formally pull out of the deal since it was adopted in 2015.

The landmark Paris climate agreement was signed in 2015 to protect the planet from the worsening impacts of the climate crisis. As per the rules of the agreement, a country cannot officially leave before one full year of notifying the UN of its intent to withdraw. The United States notified the United Nations of its withdrawal on November 4, 2019.

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Reasons for withdrawal:

Under the Paris pact, developed countries are under obligation to mobilize at least $100 billion every year from the year 2020 in climate finance meant for the developing world. The amount was set to be revised upwards after five years.
US President, Donald Trump was opposed to this move and called it “unfair” and hence the withdrawal.

Paris Climate Agreement:

In December 2015, 195 Countries adopted the Paris Climate Agreement to combat global warming and actions to intensify actions for low carbon growth at the 21st Conference of the Parties of the UNFCCC in Paris, France.
It is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC) and is effective since November 2016.

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