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The International Chamber of Commerce—the world’s largest business organization—has expressed deep concerns at reports that the United States may be set to withdraw from the Paris Climate Agreement.

ICC Secretary General John Danilovich said:

“Global business interests are best served by a stable and practical framework to manage climate change risks – which already represent an estimated drain of over US$1 trillion to the global economy. The Paris Agreement provides a balanced framework to tackle climate change, while providing the long-term certainty needed to support business innovation and growth.

“We’ve been clear for years that business can win from the transition to a low-carbon economy. The economics of the Paris agreement are clear: it encourages market-based solutions to achieve emissions reductions at low cost and expands markets throughout the world for new and innovative technologies. The US economy is well positioned to grow and create new jobs within this flexible, long-term framework.  

“What is so important about the Paris Agreement is that it puts the responsibility on every country to play its part. We call on the US to show the confidence and courage to lead the way towards a safe, sustainable and profitable future for all.”