US has begun the process of exiting the Paris Agreement. What does this mean?

The United States is the world’s second largest emitter of greenhouse gases. It also plays a preeminent role in mobilising financial resources globally to fight climate change.

President Donald Trump boards Air Force One at Joint Base Andrews in Maryland, April 28, 2018. The US will be out of the Paris Agreement by November 4, 2020. (The New York Times: Tom Brenner)

On Tuesday (November 4), the United States initiated the process of leaving the Paris Agreement, notifying the United Nations of its withdrawal from the landmark climate deal. According to a US State Department press release, the withdrawal will take effect one year from delivery of the notification.