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The US is rejoining the Paris Climate Accord. What comes next?

While the US played a major role drafting the Paris Climate Accord, a 2015 global treaty aimed at mitigating the effects of climate change, it was also the only country out of nearly 200 signatories to pull out of the landmark pact.

Now President-elect Biden says he will rejoin the accord on day one of his administration in January. But while rejoining the treaty in practice is relatively straightforward, Biden will face plenty of political challenges at home — and abroad — once the US is back in the mix.

So what comes next for the Paris Climate Agreement, and how might things change once the US is back on board?

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GZERO Summit on sustainability: COVID-19’s promise on ESG

The forced slowdown of global economic activity due to the coronavirus pandemic has slashed carbon emissions around the world, opening a unique opportunity to make real progress in the fight against climate change. But there is fear that it won't be enough, and the world will go back to its old ways when we get rid of COVID-19. However, even before the public health crisis, some major emitters had already taken ambitious steps to rethink how to make their own policies more sustainable.

In Canada, the prominence of oil in the economy doesn't mean that it should hide from the existential challenge of climate change. Fossil fuel profits make Canada not only more responsible but gives the nation the resources to commit to a bold climate policy, Canadian Minister of Natural Resources Seamus O'Regan said during a panel discussion on sustainability at the 2020 GZERO Summit in Japan.

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