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Paris climate agreement: How China could benefit from America pulling out

China currently leads the way in renewables R&D
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Posted at 10:31 AM, May 31, 2017
and last updated 2017-05-31 10:31:37-04

Ratified by 144 parties - including the world's largest CO2 emitters (China and the U.S.) - the legitimacy of the Paris Agreement is being threatened. With President Trump due to make an announcement imminently on whether or not he will be withdrawing the U.S.'s signature, this infographic by Statista examines one reason this could be a bad idea.

Turning its back on the Paris Agreement would have a number of effects, both positive and negative. While a shift of focus back onto fossil fuels will undoubtedly provide jobs growth in the short-term, whether the president believes in climate change or not, the future of energy is in renewables.

In addition to corporate investment, there is a large amount of money being directed by national governments into renewable energy research and development - with each seeking an edge in the race to exert dominance.

As this infographic from Statista shows, China is leading the way in terms of outright spending, with almost $2 billion invested last year. By looking to the past instead of the future, the U.S. risks handing the advantage to China.

Infographic: The Race for Renewable Energy Domination | Statista You will find more statistics at Statista