We Mean Business Coalition Statement on the U.S. Withdrawal from the Paris Agreement
We Mean Business Coalition
The Paris Agreement remains a cornerstone of global climate action, uniquely structured between 190+ countries to address an unfolding crisis that knows no borders. It continues to enable global dialogue and cooperation on one of the greatest challenges of our time.
While it is deeply disappointing that the new U.S. presidential administration has decided to withdraw the U.S. from the Paris Agreement, one country’s decision does not change the global course of action.
World leaders made a historic commitment in Paris to keep the world within safe temperatures so that future generations can prosper. Similarly, world governments affirmed their commitment to accelerate the transition away from fossil fuels at COP28. Many of the world’s major economies are putting forward ambitious commitments in their updated national climate plans, as designed by the Paris Agreement. They understand that these plans are a mechanism to attract investment to their countries and gain competitive advantage.
And many of the world’s largest businesses are working relentlessly on reducing emissions and investing in clean solutions. They are conscious of the increasing climate risks they face in their operations and value chains, and proactively managing them as the safest route to competitiveness and financial success.
Extreme weather events such as heatwaves, wildfires, floods and hurricanes are hurting Americans now and making economic hardships worse. Across the political spectrum, Americans want to see companies switching to clean energy and moving away from polluting fossil fuels.
In 2023, 2.5 million Americans were forced from their homes due to weather-related events that are exacerbated by climate change. Hurricane Helene killed over 200 people in the U.S. in 2024 and could top $34 billion in damages, and in Los Angeles, the recent fires during a historic drought are set to become the costliest in U.S. history, with some estimates approaching $250 billion.
Companies need market stability, policy consistency and predictability to make long-term business investments, and a shifting policy direction discourages investment in America. The U.S. federal government’s step away from international policy discussions that are shaping the clean energy future is a disservice to American businesses and people, opening the door for other major economies to attract greater investment and talent. Other countries will continue to accelerate their transition to clean energy because it makes good business and economic sense.
We look forward to the day we can welcome the U.S. back into the Paris Agreement. In the meantime, businesses, investors, cities and regions along with countries around the world will continue to go all in for the Paris Agreement. We stand ready to work with the U.S. government on advancing the transition to clean energy and supporting business readiness to climate impacts.