The Paris climate agreement was a deal that intended to unite all the world's nations in a single agreement to attack climate change. The deal was the first of its kind, and 200 countries came to a consensus that they needed to cut greenhouse emissions. The plan was to give countries a limit on how many greenhouse emissions their countries could produce in a year. If they went over their limit they had to pay hefty fine. However, if a country was near its limit it could purchase more "limits" from another country to avoid the fines. The deal was considered by many to be historic.
Shortly after Trump became President, he decided to withdraw the US from the agreement. He claimed that the deal treated the US unfairly. He was upset because less developed countries were granted higher limit than the US. He probably forgot that the US is second in producing greenhouse gasses.
Former New York Mayor, Michael Bloomberg, stated that he will pay $4.5m to cover the lapsed US financial commitment to the Paris climate accord. Bloomberg said he had a responsibility to improve the environment because of President Trump's decision to pull out of the agreement.
Bloomberg's decision to pay this hefty amount is quite inspirational. It demonstrates that executives are willing to do things the President won't. He understands that if the US doesn't get involved, the problem is only going to get worse. It's a very good power move.
By: Jesus Ponce
http://www.bbc.com/news/world-us-canada-43860590
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