U.S Withdraws From Paris Agreement. What Will That Mean?

DO YOU BELIEVE THAT THE COMMUNITY OF NATIONS HAS COME TOGETHER?

HAD THOSE KEY BENCHMARKS OF THE 2015 ACCORDS ACTUALLY BEEN MET?

WELL, YES AND NO.

IN A SENSE THAT THE REAL ECONOMY IS CONTINUING TO DECARBONIZE BECAUSE OF THE GEOPOLITICAL MASS OF COUNTRIES THAT ARE CONTINUING TO HAVE THEIR CLIMATE CHANGE RESPONSIBLE POLICIES BUT ESPECIALLY BECAUSE OF CORPORATIONS THAT ARE INCREASINGLY UNDERSTANDING THAT THEY HAVE TO MOVE AWAY FROM THE RISK OF CLIMATE CHANGE IMPACT, BOTH THE PHYSICAL RISK, AS WELL AS THE RISK TO THE VALUE OF THEIR COMPANIES, AS WELL AS THE FINANCIAL SECTOR THAT IS INCREASINGLY MOVING, SHIFTING CAPITAL, FROM HIGH-CARBON ASSETS TO LOWER-CARBON ASSETS.

WE HAVE TRILLIONS OF DOLLARS, $150 TRILLION OF CAPITAL DEMANDING DISCLOSURE OF CLIMATE CHANGE.

RISK FROM CORPORATIONS.

WE HAVE AN ALLIANCE OF ASSET OWNERS THAT IS UP TO NOW $5 TRILLION.

30 OF THE LARGEST INSTITUTIONAL INVESTORS THAT HAVE COMMITTED TO MOVE THEIR ASSET PORTFOLIO OVER TO NET ZERO BY 2050.

AGAIN, BECAUSE THEY UNDERSTAND THAT IT IS GOOD FOR THEIR FINANCIAL PERFORMANCE.

NOBODY'S TALKING HERE ABOUT SOME ESOTERIC SAVING OF THE PLANET, SAVING OF THE WORLD.

IT IS BECAUSE THE ECONOMICS ARE WITH DECARBONIZATION.

BILL, LET ME TURN TO YOU BECAUSE IT LOOKS LIKE CHINA AND I THINK SOUTH KOREA HAVE MADE PLEDGES TO BE CARBON NEUTRAL BASICALLY, THEY HAVE BEATEN THE UNITED STATES IN THAT PLEDGE.

TO THAT PLEDGE.

DO YOU -- ARE YOU A SANGUINE ABOUT WHAT'S HAPPENING AND ABOUT THE ECONOMIC INCENTIVE THAT COULD BRING OTHER COUNTRIES TO MEET THEIR TARGETS, BUT ALSO BRING THE UNITED STATES BACK INTO COMPLIANCE?

WELL, CHRISTIANE, AS USUAL, IS ABSOLUTELY RIGHT ABOUT WHERE ALL THIS IS HEADED.

THERE'S NO QUESTION THAT WE'RE MOVING TOWARD A DECARBONIZED WORLD.

THE ONLY QUESTION, OF COURSE, IS HOW FAST.

AND IF WE GO AT THE RATE THAT WE'RE GOING NOW, THEN WE WILL NEVER CATCH UP WITH CHEMISTRY AND PHYSICS.

I MEAN, THE TEMPERATURE OF THE PLANET SET A NEW RECORD IN AUGUST IN CALIFORNIA.

THE TEMPERATURE REACHED 130 DEGREES FAHRENHEIT.

THAT'S THE LIMIT OF HUMAN ABILITY TO SURVIVE.

THE COMPUTER MODELING MAKES CLEAR THAT'S WHERE WE'RE HEADED ACROSS LARGE SWATHS OF THE PLANET UNLESS WE MOVE WITH GREAT, GREAT SPEED.

SO THE HOPE, ALWAYS, OF THE PARIS ACCORDS WAS THAT IT WOULD GOOSE THIS RESPONSE.

IT WOULD MAKE US MOVE FASTER THAN WE OTHERWISE WOULD.

WE NEED TO KEEP DOING THAT.

WE NEED TO KEEP PRESSING IN WASHINGTON, SAY, BUT ALSO IN WALL STREET AND AT LEAST AS MUCH.

THAT'S WHY IT'S BEEN SO GOOD TO SEE ACTIVISM FOCUSING NOT JUST ON POLITICS, BUT ON COMMANDS