U.S. breaks with G7 on climate, development banks

The United States refused to sign up to the Group of Seven major industrialized economies' statement on climate change and plans to fund sustainable development, a statement from the group's environment ministers said on Monday.

The U.S. said it did not sign up to statements by its G7 colleagues from Italy, Canada, Japan, France, Britain and Germany on climate change and multilateral development banks "reflecting our recent announcement to withdraw and immediately cease implementation of the Paris Agreement and associated financial commitments," the statement said.

"The United States will continue to engage with key international partners in a manner that is consistent with our domestic priorities, preserving both a strong economy and a healthy environment," it said.

Earlier this month, U.S. President Donald Trump announced he would withdraw from the Paris climate change accord, saying that participating would undermine the economy, wipe out jobs, weaken U.S. national sovereignty, and put the country at a permanent disadvantage to others.

Source: Reuters