US Ditches Paris Climate Pact Once More for Jobs and Growth
Published Date: 1/30/2025
Presidential Document
Summary
The U.S. is putting America first by stepping away from international environmental deals that hurt our economy or send taxpayer money overseas unfairly. Starting now, the U.S. will pull out of the Paris Agreement and similar climate pacts to protect American jobs and growth. This move affects workers, businesses, and taxpayers, aiming to boost the economy without sacrificing environmental progress.
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Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Immediate U.S. Withdrawal from Paris Pact
By Executive Order 14162 dated January 20, 2025, the United States will immediately submit written notification of withdrawal from the Paris Agreement under the United Nations Framework Convention on Climate Change. The order also directs immediate written notification of withdrawal from any agreement, pact, accord, or similar commitment made under the same Convention.
Stop and Rescind Climate Finance Commitments
The order requires the United States to immediately cease or revoke any purported financial commitment made under the UNFCCC and states that the U.S. International Climate Finance Plan is revoked and rescinded immediately. The Director of the Office of Management and Budget must, within 10 days of the order, issue guidance for the rescission of all frozen funds.
Energy Diplomacy Prioritizes Economic Goals
The order directs the Secretary of State, Secretary of Commerce, and other relevant agency heads to prioritize economic efficiency, the promotion of American prosperity, consumer choice, and fiscal restraint in all foreign engagements that concern energy policy. This requirement takes effect immediately under the Executive Order dated January 20, 2025.
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