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| | California Insurance Commissioner Dave Jones Calls Trump’s Decision To Withdraw From Paris Climate Agreement “Irresponsible” By Lonce LaMon and the California Department of Insurance - June 1, 2017
Upon hearing the word earlier today that President Donald Trump is about to announce that the United States will pull out of the Paris accord on global warming, Dave Jones immediately reacted by calling the decision “irresponsible”.
Jones began, "President Trump's decision to withdraw from the Paris Climate Agreement will be recorded in history as one of the worst abdications of United States leadership. The United States has contributed more than any other country to the atmospheric carbon dioxide that is scorching the planet. As California has demonstrated time and time again, the United States also has the ability to reduce carbon emissions significantly while continuing economic growth.”
Jones went on to promise that California will continue to lead on addressing climate change despite the president's decision. Whether it's renewing cap and trade, increasing energy conservation and efficiency, moving toward a 100 percent renewable energy portfolio, increasing use of electric and other non-greenhouse gas emitting vehicles, or any of the other climate policies, California will work with other nations, provinces, states, localities, businesses, and investors to meet the Paris Climate Agreement objectives.
From his position he committed California to these objectives “while President Trump sticks his head in the sand.”
Jones attested that his responsibility as a financial regulator is “making sure that insurance companies are making sound investments that, at a minimum, retain value so they have assets to pay future insurance claims, I will continue to require insurers to disclose publicly their investments in oil, gas and coal because of the financial risk that these carbon assets will become stranded assets of declining value as the world continues, despite the president, to move away from burning carbon. So, too, I will continue my first-in-the-nation request that insurers divest from thermal coal because of the immediate financial risk facing investments in the wake of markets, businesses, and governments restricting or reducing the use of thermal coal.”
He said that not even the president of the United States can stop the progress being made in California and throughout the world in addressing climate change. “While this day will be remembered as one where President Trump ignored science and was willing to place the future of the world at risk for political gain, it will also be remembered as a day when people throughout the United States renewed their commitment and dedication to addressing climate change with California leading the way."
Lonce LaMon, lonce@adjustercom.com with the News Release of June 1, 2017 from Commissioner Jones and the Department of Insurance of the state of California.
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