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What Trumps decision to pull out of the Paris Agreement means for your wallet

Our planet is warming, putting at risk not only our physical well-being, but our wallets.

President Donald Trump announced Thursday that the U.S. would pull out of the Paris Agreement, a landmark international deal signed in 2015 to limit global warming. The U.S. joins only two other countries, Syria and Nicaragua, in rejecting it. The decision comes after the hottest year on record in 2016, in which temperatures were 1.78 degrees Fahrenheit warmer than the mid-century mean. Scientists say global temperatures may rise by 7 degrees Fahrenheit before the end of the 21st century. As climate change escalates, cities are building sea walls, seeking new water sources for drought-stricken land, and storm-proofing their infrastructure in preparation. But while impending environmental impact of rising temperatures may be the most tangible, the often-overlooked effects on our pocketbooks may be just as worrisome, according to David Stookey, author of new book “Climate-Proof Your Personal Finances” published the Savvy Families Institute, an organization he heads that is based in Rhode Island.

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