Recognizing that many developing countries and small island developing states that have contributed the least to climate change are most likely to suffer the consequences, the Paris Agreement contains a plan for developed countries – and others that are able to do so – to continue to provide financial resources to help developing countries reduce and increase their capacity to withstand climate change. The agreement builds on the financial commitments of the 2009 Copenhagen Accord, which aimed to increase public and private climate finance to developing countries to $100 billion per year by 2020. (To put it in perspective, in 2017 alone, global military spending amounted to about $1.7 trillion, more than a third of which came from the United States. The Copenhagen Pact also created the Green Climate Fund to mobilize transformation funding with targeted public dollars. The Paris agreement expected the world to set a higher annual target by 2025 to build on the $100 billion target by 2020 and create mechanisms to achieve this. The initial commitment period of the Kyoto Protocol was extended until 2012. This year, at COP18 in Doha, Qatar, delegates agreed to extend the agreement until 2020 (without some industrialized countries withdrawing). They also reaffirmed their commitment made at COP17 in Durban, South Africa, in 2011, to create a new global climate treaty by 2015 that would require all major emitters not included in the Kyoto Protocol, such as China, India and the United States, to reduce their greenhouse gas emissions. The new treaty – which was to become the Paris Agreement – was to completely replace the Kyoto Protocol by 2020. However, the Paris agreement came into force earlier than expected in November 2016.
You promised to put America at the forefront of everything you do, and you did it in different ways, from trade to national security, to protecting our borders, to the rights of Washington, D.C. And today, you put America first in terms of international agreements and the environment. We have one of the most frequent energy reserves in the world, enough to lift America`s poorest working people out of poverty. But as part of this agreement, we are effectively locking up these reserves and taking the great wealth of our nation – it is a great wealth, it is a phenomenal wealth. Not so long ago, we had no idea that we had such wealth and that we were leaving millions and millions of families trapped in poverty and unemployment. In short, the agreement does not eliminate coal jobs, it only transfers those jobs from the United States and the United States and ships them overseas. This agreement is not so much about climate as it is about other countries gaining a financial advantage over the United States. The rest of the world applauded when we signed the Paris Agreement — they went wild; they were so happy – for the simple reason that it put our country, the United States of America, which we all love, in a very, very great economic disadvantage. A cynic would say that the obvious reason for the economic competitors and their desire to stay in the agreement is that we continue to suffer this great self-inflicted economic injury. It would be very difficult to compete with other countries in other parts of the world. How each country is on track to meet its obligations under the Paris Agreement can be constantly monitored online (via the Climate Action Tracker  and the climate clock).