Signing of Paris climate deal will open up new market: WH

The signing of the Paris agreement on climate change later this week in New York will "open up" a new market for energy efficiency innovation that US companies have pioneered, the White House has said.
"This will open up a market for energy efficiency innovation that US companies have pioneered," White House Press Secretary Josh Earnest said yesterday.
Several global leaders including Secretary of State John Kerry and Environment Minister Prakash Javadekar are expected to be present on the occasion in New York later this week.
"This is another example of American leadership; that there will be a substantial number of countries, including some with large economies, joining the US in making a serious international commitment to fighting climate change and to fighting carbon pollution," Earnest said.

This has long-term benefits for future generations of Americans, he said, adding that it also has shorter-term benefits for significant economic policy decisions that have been made in this country.
"This is going to open up a global market for the kind of renewable energy technology that US companies are at the cutting edge of. This will open up a market for energy efficiency innovation that US companies have pioneered.

"And no longer will they be in a position of essentially being a small sliver of the energy market. We know that now countries around the world, because of the policy commitments that they have made, are going to be looking to invest in that kind of technology," Earnest said.

"That is why it has significant growth potential for our economy back here at home. It has the potential to create jobs in a brand new industry. It certainly is something that the President is quite enthusiastic about, both in terms of its long-term impact on our planet, but also its more medium-term impact on our economy," he added.
United Nations Climate Change Conference or COP 21 was held in Paris last year. The conference negotiated the Paris Agreement -- a global agreement on the reduction of climate change -- the text of which represented a consensus among the world leaders.