Putting America First in International Environmental Agreements

This executive order withdraws the United States from the Paris Agreement and all related UN climate commitments, revokes the International Climate Finance Plan, freezes and rescinds climate-related foreign funding, and directs agencies to prioritize economic efficiency over environmental objectives in future international energy agreements.

Federal Register Open PDF 90 FR 8455

Impact dates

Feb 19, 2025
Agency reports on rescinding International Climate Finance Plan policies
Jan 30, 2025
OMB guidance for rescission of frozen funds

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Oil & gas Other industrial

Mechanisms

Ban / prohibitionSubsidy / incentive

Role pressure

ProtectiveDomestic producer — Removal of international climate commitments reduces regulatory pressure on US fossil fuel and energy-intensive industries
AdverseProject developer — International renewable energy and climate infrastructure projects lose US government financing and political risk insurance
UncertainTrading-partner exporter — Countries dependent on US climate finance face funding cliff; potential shift to other bilateral or multilateral sources

Geographies

US OTHER

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MCATCaterpillarLNGCheniere EnergyCVXChevronCOPConocoPhillipsXOMExxon MobilFCXFreeport-McMoRanGEVGE VernovaHONHoneywellSHELShellSPYSPDR S&P 500 ETFTSLATesla

Confidence: medium · Policy alerts

Key directives

Ambassador to UN shall immediately submit formal withdrawal notification from Paris Agreement to UN Secretary-General
Ambassador to UN shall immediately submit withdrawal from any UNFCCC agreement/pact/accord
Ambassador to UN, with Secretary of State and Treasury, shall immediately cease/revoke financial commitments under UNFCCC
Upon completion of (a)-(c), Ambassador to UN with State and Treasury shall certify report to Presidential Assistants for Economic Policy and National Security Affairs
International Climate Finance Plan revoked immediately
OMB Director shall issue guidance for rescission of frozen funds within 10 days
Secretaries of State, Treasury, Commerce, HHS, Energy, Agriculture, EPA Administrator, USAID Administrator, DFC CEO, MCC CEO, USTDA Director, EXIM Bank President, and other relevant heads shall submit report on rescinding climate finance policies within 30 days
Secretary of State, Secretary of Commerce, and heads of agencies coordinating international energy agreements shall prioritize economic efficiency, American prosperity, consumer choice, and fiscal restraint

Who is ordered

Timeline

Immediate

US withdrawal notification from Paris Agreement submitted
UNFCCC financial commitments ceased/revoked
International Climate Finance Plan revoked

Near term (90d)

OMB guidance on fund rescission due within 10 days
Agency reports on rescinding climate finance policies due within 30 days

Long term

Shift in US international energy diplomacy toward economic prioritization
Potential restructuring of multilateral climate finance architecture without US participation

Risks & tensions

Immediate withdrawal from Paris Agreement may complicate diplomatic relationships with allies who remain committed
Revocation of climate finance commitments could cede US influence in multilateral development to competitors, notably China
Vague 'henceforth' directive in 3(g) lacks enforcement mechanism or metrics for 'economic efficiency' prioritization
Condition 'subject to availability of appropriations' in 4(b) may limit practical impact of fund rescission if Congress has already appropriated
Potential legal challenges to immediate withdrawal without Senate advice and consent, though executive agreements historically allow unilateral exit