"President [Donald] Trump has achieved the impossible – uniting Goldman Sachs, Bernie Sanders, Shell Oil and Greenpeace," the BBC's American correspondent James Cook wrote on Twitter.
The vast majority of business leaders seem to be against the decision.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"Under the deal, the US, which accounts for about 15 per cent of global greenhouse gas emissions, had committed to a 26 per cent to 28 per cent reduction from 2005 levels by 2025," says the BBC.
"The US also promised $3bn (£2.3bn) in aid to a United Nations fund to help poorer countries to tackle climate change problems."
Trump, in comments reported by the Financial Times, said he "cannot in good conscience support a deal that punishes the US". The American President claims it would cost as many as 2.7 million American jobs.
"We don't want other leaders and other countries laughing at us any more and they won't be."
Business leaders are dismayed that Trump's decision to pull out of the deal, which has been signed by 147 countries including all the major industrialised nations, will diminish America's position in the world and reduce innovation, says Sky News.
Goldman Sachs's chief executive Lloyd Blankfein said: "Today's decision is a setback for the environment and for the US's leadership position in the world."
"Other major companies, including Morgan Stanley, Unilever, Intel and big tech firms, such as Apple, had opposed withdrawal, saying it would have spurred energy innovation in the US, among other benefits," says the BBC.
The Daily Telegraph adds that even oil firms like ExxonMobil, Chevron and Shell have spoken out against Trump's decision.
Investors are taking a different view, however. Shares in ExxonMobil and Chevron rose on Thursday in New York as Wall Street hit a new record. This was prompted by positive wage growth figures in the US.
Another sector – coal – is outwardly supportive, too.
Paul Bailey, the president of the American Coalition for Clean Coal Electricity, a coal lobbying organisation, said: "We support President Trump's decision to withdraw from the Paris agreement.
"Meeting [former] President Obama's goal would have led to more regulations, higher energy prices and dependence on less reliable energy sources."
-
Rothermere’s Telegraph takeover: ‘a right-leaning media powerhouse’Talking Point Deal gives Daily Mail and General Trust more than 50% of circulation in the UK newspaper market
-
The US-Saudi relationship: too big to fail?Talking Point With the Saudis investing $1 trillion into the US, and Trump granting them ‘major non-Nato ally’ status, for now the two countries need each other
-
Crossword: November 30, 2025The daily crossword from The Week
-
The US-Saudi relationship: too big to fail?
Talking Point With the Saudis investing $1 trillion into the US, and Trump granting them ‘major non-Nato ally’ status, for now the two countries need each other
-
Could Trump run for a third term?The Explainer Constitutional amendment limits US presidents to two terms, but Trump diehards claim there is a loophole
-
Trump’s Ukraine peace talks advance amid leaked callSpeed Read Trump’s envoy Steve Witkoff is set to visit Russia next week
-
Memo signals Trump review of 233k refugeesSpeed Read The memo also ordered all green card applications for the refugees to be halted
-
Judge tosses Trump DOJ cases against Comey, JamesSpeed Read Both cases could potentially be brought again
-
X’s location update exposes international troll industryIn the Spotlight Social media platform’s new transparency feature reveals ‘scope and geographical breadth’ of accounts spreading misinformation
-
Tariffs: Will Trump’s reversal lower prices?Feature Retailers may not pass on the savings from tariff reductions to consumers
-
Trump: Is he losing control of MAGA?Feature We may be seeing the ‘first meaningful right-wing rebellion against autocracy of this era’
