- Title: German minister says global climate deal will survive U.S. pull-out
- Date: 2nd June 2017
- Summary: BERLIN, GERMANY (JUNE 2, 2017) (REUTERS) VARIOUS EXTERIORS OF GERMAN PARLIAMENT BUILDING GERMAN ENVIRONMENT MINISTER BARBARA HENDRICKS ARRIVING FOR STATEMENT MEN ON STAIRS (SOUNDBITE) (German) GERMAN ENVIRONMENT MINISTER, BARBARA HENDRICKS, SAYING: "We regret this move very much, we had to expect it. But as a world community we are convinced that we can undoubtedly overcome this setback. The rest of the world is closing its ranks even more tightly and all others have decided to not let it affect them. That goes for big countries like China and India, but also all, especially vulnerable countries, like small island nations. With all of them we will talk about how to strengthen our chances and how to work together. For instance, yesterday the EU and China discussed a special cooperation in climate protection." HENDRICKS LEAVING FRANKFURT, GERMANY (JUNE 2, 2017) (REUTERS) TRADING FLOOR AT FRANKFURT STOCK EXCHANGE SIGN READING (German): "FRANKFURT STOCK EXCHANGE" VARIOUS OF TRADERS DETAIL OF BOARD SHOWING INDEX CHANGES (SOUNDBITE) (German) HEAD OF CAPITAL ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The DAX is not negatively influenced through this. You can't put it down. Even Trump with this climate agreement, which he no longer wants to have, has absolutely no effect at all. You can think: "Well, if the Americans no longer make environmental technology, then the Germans can. Therefore thank you, America!" DETAIL OF BOARD (SOUNDBITE) (German) HEAD OF CAPITAL ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "America is isolating itself more and more. America has been missing out for centuries. America is bidding farewell thanks to Trump. This is very dangerous for an industrial nation which cannot benefit from future technology such as environmental technology. Then the Germans, Asians and Europeans will. If it continues, America is on the downgrade. It's clear to say that climate protection is important for America and no climate protection is a catastrophe for America." BOARD SHOWING MARKET SHARES AND PRICES TRADERS VARIOUS OF ULF MOSLENER, PROFESSOR AT FINANZIERUNG NACHHALTIGER ENERGIESYSTEME (SOUNDBITE) (German) PROFESSOR AT FINANZIERUNG NACHHALTIGER ENERGIESYSTEME, ULF MOSLENER, SAYING: "The long-term path towards climate protection means less carbon and then a corresponding structural change. This means uncertainty for investors in the field of carbon emissions-intensive industry. This uncertainty doesn't leave because now a country's president has decided not to honour the international accord anymore. The uncertainty now for international companies and international investors of course stays." DAX CURVE TRADER (SOUNDBITE) (German) PROFESSOR AT FINANZIERUNG NACHHALTIGER ENERGIESYSTEME, ULF MOSLENER, SAYING: "The problem is the uncertainty about the future of carbon, the future of fossil (fuels), and I believe this uncertainty will continue to exist regardless of what the politics will be. The uncertainty, the problem, that is certainly the reason why many large companies in the United States have warned Trump not to take this step, because the uncertainty will persist, the industry needs security to work with. And this security brings jobs, not the uncertainty." DETAIL OF BOARD TRADER
- Embargoed: 16th June 2017 11:16
- Keywords: climate deal Frankfurt stock exchange Volkswagen German Environment Minister Barbara Hendricks Praxair Linde Germany Audi U.S. President Donald Trump
- Location: BERLIN AND FRANKFURT, GERMANY
- City: BERLIN AND FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA0016JL4ND3
- Aspect Ratio: 16:9
- Story Text:German Environment Minister Barbara Hendricks said on Friday (June 2) she expected other countries would press ahead with the Paris global climate deal after United States President Donald Trump announced he would pull the US out of the landmark pact.
Trump's announcement on Thursday (June 1) that he would take the US out of the Paris deal, saying it would undermine the economy and cost jobs, drew anger and condemnation from world leaders and heads of industry.
Despite this a wave of positive economic data lifted stocks across Europe after the announcement.
Germany's blue-chip DAX index climbed to a new record high up 1.4 percent on Friday morning. - Copyright Holder: REUTERS
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