President Donald Trump’s intention of withdrawing from the Paris Climate Accord has been received with mixed reactions from several U.S. companies. Among the many companies is International Business Machines Corp. (NYSE:IBM), which was very dismayed citing that it had been supporting U.S. participation in the Paris Accord. Nonetheless, despite the disappointment the company’s CEO Ginni Rometty says that she will still be part and parcel of Trump’s business advisory council.
The President’s Strategic and Policy Forum was formed immediately after he took power for purposes of having business advisors across the world. Other CEO’s who are in the group, which has met just twice-in February and May- are from Wal-Mart Stores Inc (NYSE:WMT), and JPMorgan Chase & Co.(NYSE:JPM).
But the business technology giant believes in engaging with the White House
The United States is pulling out from the landmark 2015 global agreement that endeavors to fight climate change. The decision by the President has drawn much anger, fear and condemnation not only from a majority of world leaders but also from several heads of industry.
Rometty’s decision to remain in Trump’s council is in contrast with a few other members who have pulled out in objection of Trump’s withdrawal of the U.S. from the Paris climate agreement. However, the IBM CEO feels that there is still room to engage with the White House.
The company’s spokeswoman says, “IBM believes we can make a constructive contribution by having a direct dialogue with the administration – as we do with governments around the world.”
Dismissal of potential economic fallout
A majority of the chief executives criticizing the decision to withdraw from the accord are citing possible fallout of the economy. However, Gary Cohn, the National Economic Council Director has dismissed these concerns saying that the move was part of the administration’s initiative to boost U.S. economic growth. Cohn’s sentiments were echoed by a White House senior adviser, Kellyanne Conway who stated that the deal is not likely to have any significant effect on the environment.
As different opinions continue flowing in, all eyes are now on the scheduled meeting for the technology leaders on June 19 in which the issue is expected to resurface. Meanwhile, IBM’s stock traded at $152.05 a fall of $0.62 or 0.41%.
