Europe may impose duties on countries, which fail to implement the Paris Agreement on Climate Protection, according to the French Prime Minister Manuel Valls. Same position expressed the former president of France Nicolas Sarkozy, who will participate on the new Presidential Elections in the country. Sarkozy urges EU to impose strict duties on US, if Donald Trump kept his promise and withdraw the country from the Agreement. His request, however, met sharp resistance from Germany and the European Commission (EC).
During the mandate of Barack Obama, United States ratified the Agreement, which provides for the reduction of greenhouse gas emissions. It was agreed in the French capital at the end of 2015 and entered into force in early November. The program of the newly elected US president Donald Trump, however, recorded growth of the US economy through cheap energy from coal, shale gas and oil.
In this way, European businesses, which must comply with the requirements of environmental protection, will be placed at a disadvantage. For this reason, Manuel Valls called for the imposition of measures against countries that do not support the Agreement.
The French President Francois Hollande has said he will try to convince Trump that Paris Agreement is in the interest of the American people, which might change the trade relations between USA and EU.
The Paris Agreement is an agreement within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) dealing with greenhouse gases emissions mitigation, adaptation and finance starting in the year 2020. The Paris Agreement is a bridge between today’s policies and climate-neutrality before the end of the century. Before and during the Paris conference, countries submitted comprehensive national climate action plans (INDCs).
more recommended stories
Lies, Damned Lies, and Statistics: Phil Gramm and Michael Solon Edition
The popular aphorism that is commonly.
No More Easy Choices: The Death of the Phillips Curve?
“An economist is someone that will.
Stanley Fischer Resigns from Federal Reserve
Stanley Fischer is retiring from the.
Australia Q2 GDP Growth at 1.8%, While Household Savings Declines
The Australian economy expanded by 1.8%.