Donald Trump, the president of the United States of America, promised during his election campaign that, if elected, he would remove the United States from the Paris Climate Agreement. The Presidential Executive Order „Promoting Energy Independence” on 28 March 2017, aiming to reverse the climate policy initiatives launched by the Obama administration, provided the first indication that he would fulfil his promise. Soon after, in the beginning of the summer, he publicly announced his intention to leave the Agreement, and on 5 July he informed the United Nations in an official letter. Although the rules of the agreement do not allow an exit before 2019 and the process may be completed only shortly before the end of Mr. Trump’s term, the announcement provided a signal to market participants, while also making it clear that the government seeks to terminate support to the Green Climate Fund. This is the fund through which developed economies provide voluntary support to enable the achievement of the climate policy goals of developing countries as well as their adaptation to the adverse environmental impacts of climate change. It is debatable if, by keeping his promise, Mr. Trump was attempting pander to voters, since surveys show that 71% of registered voters view global warming as a real problem, 58% agree that climate change is anthropogenic, while 77% would like policymakers to take steps to limit emissions.