Investments, Trump focus of Paris summit

PARIS — The global climate summit in Paris was designed to bypass Donald Trump, but the U.S. president still ended up playing a starring role.

Trump became the unwitting villain as world leaders, investors and other Americans assailed him Tuesday for rejecting the Paris climate accord.

To emphasize their point — and prevent others from following his lead — they announced more than $1 billion in investments to make it easier for countries and industries to give up oil and coal.

French President Emmanuel Macron used the summit to seize the global spotlight, capitalizing on Trump’s isolationist policies and German Chancellor Angela Merkel’s domestic weakness to position himself as the world’s moral compass on climate change.

“We’re not moving fast enough,” Macron said, warning that the 2015 Paris climate accord is “fragile.”

“It’s time to act and move faster and win this battle” against climate change, he said, basking in the attention after gathering more than 50 world leaders and others in Paris.

Bill Gates, Richard Branson, energy executives and investment fund leaders announced a dozen international projects emerging from the summit that will inject money into efforts to curb climate change.

World Bank President Jim Yong Kim won rousing applause when he announced that his agency would stop financing oil and gas projects in two years.

The summit, co-hosted by the U.N., the World Bank and Macron, was held on the second anniversary of the Paris climate accord, which was ratified by 170 countries. More than 50 heads of state and government took part.

Trump wasn’t invited, but he was ubiquitous.

One by one, officials including former California Gov. Arnold Schwarzenegger, billionaire Michael Bloomberg and former Secretary of State John Kerry insisted the world will shift to cleaner fuels and reduce emissions regardless of whether the Trump administration pitches in.

Central to the summit was countering Trump’s main argument that the 2015 Paris accord on reducing global emissions would hurt U.S. business.

Macron, a 39-year-old former investment banker, argues that the big businesses and successful economies of the future will be making and using renewable energy instead of oil.

The projects announced Tuesday include a program for eight U.S. states to develop electric vehicles, an investment fund for the hurricane-hit Caribbean and money from Gates’ foundation to help farmers adapt to climate change and develop low-carbon technology.

The projects also aim to speed up the end of combustion engines to reduce the emissions that contribute to global warming.