Briefcase

Briefcase: Paris Accord Withdrawal

Guest Professor Victor Flatt

Earlier this year, the United States announced it plans to pull out of the Paris Accord, an international agreement to address global warming. Professor Victor Flatt, with The University of Houston Law Center, is an environmental law expert and explained what changes should be anticipated as a result of the withdrawal.

“Aside from any effect this may have on climate change impacts in the future, there could be immediate economic impacts on Houston,” Professor Flatt said. “Other countries may introduce border adjustment penalties for energy produced with carbon content. The Houston economy is quite dependent on oil and natural gas energy export and import.”

Flatt says Houston’s energy companies may try to mitigate this impact.

“The United States cannot officially withdraw from the Paris Accord until November 4th, 2019,” Flatt continued. “In the meantime, local companies should educate Congress and the executive branch – -about the possible trade related downsides of withdrawal, especially for energy businesses.”

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