The U.S. coal industry is very happy about the decision. But almost all the other big companies of the country have criticized the decision of the president. Tesla President Elon Musk and Walt Disney Chief Executive Robert Iger resigned as White House advisers. And many other top executives have lamented the move, promised by Trump during his campaign.
For Facebook founder Mark Zuckerberg, Trump's decision is " bad for the environment, bad for the economy and puts our children's future at risk." "An incredibly short-sighted and regressive measure," was the verdict of Twitter co-founder Jack Dorsey.
And even Goldman Sachs chief Lloyd Blankfein decided to use Twitter for the first time in his life to condemn the move. Why such a reaction if Trump has said that the decision is good for the economy?
Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world.
— Elon Musk (@elonmusk) 1 June 2017
Things have already changed
Long before the signing of the Paris Accord, many of the world's largest companies had already begun to act to reduce their environmental impact and climate change.
And shortly after Trump's announcement, many were quick to emphasize that, no matter what the official U.S. position was. About the agreement, they were going to remain committed to the environment.
Zuckerberg said Facebook was going to continue its plans for 100% of its new data-processing centers to run on renewable energy, while Amazon insisted it was still "committed to using our size and creativity in ways that are positive for the environment."
Accounts square
Most of the time, business decisions have to do with weights and cents, costs and benefits.
But while fossil fuels such as oil, gas, and coal were traditionally the cheapest source of energy, the costs of producing it from renewable sources have declined significantly over the last decade.
It is true that solar, hydroelectric and wind power projects often receive substantial government subsidies, but some research shows that they can be cheaper than fossil fuels and generate significant savings, making them increasingly attractive to businesses.
Walmart, for example, says it saved $1 billion last year by generating a quarter of its energy from renewable sources.
Climate change is risky
The terms "climate change" or "global warming" refer to the effect on our atmosphere of gases, or emissions, generated by industry and agriculture. And whether it's a convinced environmentalist, a climate change skeptic, or something in between, the truth is that there is abundant evidence of the economic and social cost of changes in the environment.
