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Industry touts economic gains of Obama’s climate policy to Trump

Illustration: Lazaro Gamio/Axios

A climate policy pursued under former President Obama is poised to create thousands of jobs and lower America’s trade deficit, according to a report backed by a trade group representing some 300 companies in the air conditioning, heating and refrigeration industries.

Why it matters: Usually it’s the other way around, with industry slamming an Obama-era regulation. This issue — phasing down refrigerants that emit powerful greenhouse gas emissions — flips conventional wisdom on its head. The reason why is simple, and it has nothing to do with climate change: Companies like Honeywell, Trane and Carrier have invested millions of dollars adapting to what they have long expected the policy to be, and they want to make sure their investments aren’t wasted.