Several tech executives – including Google CEO Sundar Pichai, Microsoft president and legal director Brad Smith, Apple CEO Tim Cook, Facebook CEO Mark Zuckerberg and General Electric CEO Jeff Immelt – condemned the decision.   Microsoft`s Satya Nadella stated that Microsoft believes that “climate change is an urgent issue that requires global action.” Google`s Sundar Pichai tweeted: “Disappointed with today`s decision. Google will continue to work hard for a cleaner and more prosperous future for all. Facebook`s Mark Zuckerberg said: “The exit from the Paris climate agreement is bad for the environment, bad for the economy and threatening the future of our children. Whoever wins the U.S. presidential election, the United States officially withdraws from the Paris climate agreement on November 4. This measure is a blow to international efforts to stop global warming. In its commitment, China also plans to increase the share of non-fossil sources in primary energy consumption to about 20%. In 2017, non-fossil sources accounted for 14% of China`s primary energy; 2% nuclear power, 8% hydroelectric power and 4% renewable energy. China`s domestic consumption of renewable energy has increased six-fold since 2010. Indeed, research shows that the cost of climate activity far outweighs the cost of reducing carbon pollution. A recent study suggests that if the United States does not meet its climate targets in Paris, it could cost the economy up to $6 trillion in the coming decades. A lack of compliance with the NPNs currently foreseen in the agreement could reduce global GDP by more than 25% by the end of the century.
Meanwhile, another study estimates that achieving – or even exceeding – the Paris targets by investing in infrastructure in clean energy and energy efficiency could have great benefits globally – about $19 trillion. InDCs become CNDs – nationally determined contributions – as soon as a country formally adheres to the agreement. There are no specific requirements as to how or how many countries should reduce emissions, but there were political expectations about the nature and rigour of the targets set by different countries. As a result, the scale and ambition of national plans vary widely, largely reflecting each country`s capacity, level of development and contribution to emissions over time. China, for example, has committed to cleaning up its CO2 emissions by 2030 at the latest and reducing CO2 emissions per unit of gross domestic product (GDP) by 60-65% by 2030 from 2005 levels.