Climate change is an urgent situation which requires immediate action, on behalf of every individual because of the significant risk posed by the climate to the world due to the rising concentration of greenhouse gases, increasing global temperatures and the escalating percentage of carbon dioxide in the atmosphere due to the burning of fossil fuels. Scientists have been warning humans to correct the harm they have done to the environment before it is too late And, now it has become more important than ever to take this warning seriously and work towards protecting the environment. The US is the largest per capita emitter among industrialized countries, and hence their withdrawal from the Paris Agreement will be of paramount importance. Further, being a key player in the formulation of the Paris Agreement, their withdrawal will have a lasting impact on other countries who have ratified the Agreement and were hoping for financial help from the US in their efforts to mitigate greenhouse gas emissions. Without any financial incentive to the small countries, there are chances of non-fulfilment of obligations by them, even when they have the strong will to protect the environment. This research paper relies on primary sources, such as reports from the United Nations, as well as newspapers, books, and academic journals articles for its secondary level of research.