Tech’s biggest companies and CEOs are sounding the alarm in hopes that President Donald Trump won’t do what the world fears he will do — exit the Paris climate agreement.
Tesla and SpaceX CEO Elon Musk joined the bevy of voices including those of Apple CEO Tim Cook and leaders at 25 other businesses, including Google, Microsoft, and Facebook, that hope to persuade Trump from withdrawing from the U.S. commitment to reducing carbon emissions in an effort to stave off global warming.
Musk said in tweet that he had done all he could to advise the White House against abandoning the climate deal. Should Trump opt to leave, Musk said he would stop advising the White House.
Don't know which way Paris will go, but I've done all I can to advise directly to POTUS, through others in WH & via councils, that we remain
— Elon Musk (@elonmusk) May 31, 2017
America’s top companies are running television and print advertisements that warn citizens and Trump that dishonoring the Paris climate agreement would be more than bad for the planet — it would also be bad for business.
In an open letter, the business leaders wrote that leaving the agreement would hurt the economy by limiting companies’ ability to expand in untapped markets due to retaliation from other governments.
“By expanding markets for innovative clean technologies, the agreement generates jobs and economic growth,” the letter states. “U.S. companies are well positioned to lead in these markets. Withdrawing from the agreement will limit our access to them and could expose us to retaliatory measures.”
Companies are even getting pressure from shareholders to honor the Paris deal regardless of Trump’s decision. ExxonMobil’s shareholders voted overwhelmingly this week to force the company to disclose the risks its business poses to climate change.
“The need for extractive companies to provide disclosure on the resilience of their portfolios to the transition to a low carbon economy is generally established,” shareholders wrote in their proposal. “This resolution aims to ensure that ExxonMobil fully evaluates and discloses to investors risk to the viability of its assets as a result of the transition to a low carbon economy.”
Trump is expected to announce his final decision on whether to stay in the agreement Thursday afternoon. White House press secretary Sean Spicer indicated during a press conference Wednesday that pleas for the president to stay in Paris aren’t guaranteed influence.
“The president has a lot of people who he gets a lot of input from,” he said. “Let’s wait and see what the president’s decision is.”
But despite several leaks and indications that Trump will withdraw, per his campaign promise to do so, it’s possible that he could stay in. Trump is known to contradict official White House proclamations and change his mind on apparent whims. Plus there’s the business aspect. Trump campaigned on job creation and economists have said the Paris deal will do just that, but leaving would cost American jobs.
Trump has repeatedly said he will “renegotiate” the deal, but it has already been ratified by most countries. While Trump may claim that he will craft a better deal, he will likely not have any partners to negotiate with.
Update: Musk resigned from his presidential adviser post shortly after Trump’s announcement to withdraw from the Paris climate agreement Thursday, saying in a tweet “Climate change is real. Leaving Paris is not good for America or the world.”
General Electric’s CEO Jeff Immelt also withdrew from Trump’s business council Thursday. In a tweet, Immelt said, “Disappointed with today’s decision on the Paris Agreement. Climate change is real. Industry must now lead and not depend on government.”