U.S. losing out on economic boost, innovation with environment decision: Fmr. UN climate boss

By stepping out of the Paris Climate Agreement, the United States is losing out on economic opportunities and innovation possibilities, former UN climate director Yvo de Boer said to BNR. With his decision, Donald trump is boosting the economy of the past, rather than investing in the economy of the future, he said.

The Paris Climate Agreement is the result of some 10 years of hard work by over 190 countries. Trump's abandonment of the treaty is a "punch in the face to international cooperation", De Boer said to the broadcaster. "Trump is not only turning his back on the Paris agreement but also said: I'm stopping financing to developing countries, which often deal with the worst consequences of climate change. But for the Americans the worst actually is that he, from a foolish sense of duty, is turning his back on innovation."

De Boer doesn't think that the United States wil switch back from gas to coal, as the decision to switch to gas was an economic one, rather than an environmental one. "But I do think that American companies are going crazy from presidents who go in entirely different directions every five years, which makes investments decisions difficult."