The world will watch the U.S. presidential election on Tuesday, November 3, but only 24 hours later, it`s another very important news event when the U.S. officially leaves the Paris Climate Agreement. The main objective of the agreement is to keep the rise in global average temperature well below 2°C above pre-industrial levels” mainly by reducing greenhouse gas emissions. The agreement differs from the 1997 Kyoto Protocol, the last widely used amendment to the UNFCCC, in that it does not establish annexes to reduce the liability of developing countries. On the contrary, emissions targets have been negotiated separately for each country and must be implemented voluntarily, prompting U.S. officials to view the Paris Agreement as an executive agreement rather than a legally binding treaty. This escaped the obligation for the U.S. Congress to ratify the agreement.
 In April 2016, the United States became a signatory to the Paris Agreement and accepted it by executive order in September 2016. President Obama has promised the United States to contribute $3 billion to the Green Climate Fund.  The Fund aims to raise $100 billion annually by 2020. While adapting to climate change is costly, there is also evidence that it can be good for the economy. Between 2005 and 2017, 41 countries increased their gross domestic product while reducing carbon dioxide emissions, according to a recent analysis by the World Resources Institute think tank, and investing in clean energy today creates more jobs than investing in fossil fuels. “What Obama did at the end of his second term was fundamentally undemocratic to sign a Paris agreement without going to the Senate and Congress and instead by decree,” said former UN climate chief Yvo De Boer. Institutional asset ownership associations and think tanks have also noted that the stated goals of the Paris Agreement are implicitly “based on an assumption – that UN member states, including high-level polluters such as China, the United States, India, Russia, Japan, Germany, South Korea, Iran, Saudi Arabia, Canada, Indonesia and Mexico, which cause more than half of global greenhouse gas emissions, will voluntarily pollute their carbon pollution. and reduce conscientiously, without a binding enforcement mechanism to measure and control CO2 emissions at all levels, from factory to state and without gradation of specific penalty or tax burden (e.g. a carbon tax) to prevent bad behaviour. [ 99] However, emissions taxes (e.g.
B, a carbon tax) can be incorporated into the country`s NDC. . . .