US President Donald Trump’s ensure quit Landmark Paris climate agreement The top U.N. climate official said this second time has created a leadership vacuum that other countries could benefit from.

Trump signed an executive order on Monday withdrawing the United States from the world’s largest coordinated effort to combat rising temperatures. He also declared a “national energy emergency” to roll back many Biden-era environmental regulations and vowed to boost fossil fuel production.

Order to withdraw from Paris climate agreement generally expected,follow The first Trump administration took similar steps in 2017 and dealt a major blow to global efforts to protect the environment.

The 2015 Paris Agreement is a framework that aims to reduce greenhouse gas emissions and limit global warming to “well below 2 degrees Celsius, and preferably 1.5 degrees Celsius, compared to pre-industrial levels” in the long term.

“We’ve been in this before,” UN climate change executive secretary Simon Steel said during a panel discussion hosted by CNBC at the World Economic Forum on Tuesday.

Steele said a key difference between Trump’s 2017 decision to withdraw from the Paris Agreement and Monday’s executive order is that the crackdown global warming during the eight years in between.

Steele said: “The world is going through an unstoppable energy transition. Last year alone, more than $2 trillion was invested in this transition, compared with $1 trillion in fossil fuels, so this signal is absolutely clear.”

“Anyone who steps back from this important forward momentum creates a vacuum that others will fill and benefit from. So I think within 14 hours of this statement we will find ourselves in this position.” kind of framed background,” he added.

climate scientist condemn Trump ordered the United States to be removed from the Paris Agreement, noting that the commitment came just weeks after U.S. and global scientific agencies confirmed that the planet is experiencing severe climate change. 2024 is the hottest year on record.

Trump calls climate crisis ‘One of the biggest scams,” said on Monday that he intends to increase oil and gas production during his second four-year term.

“We’re going to drill, baby, drill,” Trump said in his inauguration speech, also promising a new era of U.S. oil and gas exploration.

Chief executive Oliver Bate said: “It’s difficult but this gentleman has done it before and the world knows it has to improve itself.” Allianztold CNBC’s “european scream box“Tuesday in Davos.

“We have reached the limits of our planet and everyone knows it. Maybe it’s time to talk less and do more. At least that’s what our industry is trying to do,” he added.

zurich insurance Chief Executive Mario Greco dismissed the idea that Trump’s push to withdraw from the Paris climate accord constituted a major political event.

“I think we have to admit that the Paris Agreement has not achieved any of its intended plans, ambitions and goals,” Greco said on Tuesday.

“It’s true that we’re looking at other ways to achieve much-needed cooling. I mean technology needs to help. Without technology, we’re not going to make the planet any colder than it is now or in the future.” So no, I don’t think it’s a big deal ,” he added.