How Trump could cost U.S. companies a climate bonanza

President Donald Trump announces his decision for the United States to pull out of the Paris climate agreement in June 2017. | Chip Somodevilla/Getty Images


12/06/2019 05:05 AM EST

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President Donald Trump’s planned pullout from the Paris climate agreement has some U.S. companies worried that a business opportunity worth hundreds of billions of dollars is going to pass them by.

The withdrawal could lock U.S. businesses out of a huge portion of the rapidly growing global market, already worth an estimated $164 billion, that seeks to put an economic price on the greenhouse gases warming the planet — a potential economic loss causing concern among American-based companies such as the food and candy maker Mars.

Negotiators from nearly 200 nations began meeting on Monday at a U.N. climate conference where the discussions include the details of how carbon trading markets could help meet the Paris agreement’s goals for heading off the worst consequences of global warming. But Trump’s exit plan would leave the United States as the only country on Earth not part of the Paris deal — and potentially left out of the economic bounty.

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