Coal miners and alienated workers just trumped corporate America.

By canceling America’s participation in the 2015 Paris climate agreement, President Trump snubbed many of the nation’s biggest businesses. Corporate giants including Exxon (XOM), General Electric (GE), Apple (AAPL), Microsoft (MSFT) and Alphabet (GOOGL) urged Trump to stick with the agreement, which nearly every other country in the world has signed on to. Tesla (TSLA) CEO Elon Musk said he’ll quit as an informal White House adviser on account of Trump’s decision to withdraw. The only major businesses supporting Trump’s move are energy firms dependent on coal and oil.

“The Paris accord is very unfair to the United States,” Trump declared at the White House on June 1. He claimed the agreement imposes “draconian financial and economic burdens” on the United State, while linking it to the loss of nearly 3 million jobs–a claim economists strongly dispute. Trump did say he was open to re-entering the Paris agreement under different terms, leaving some wiggle room amid the criticism he is sure to get for the decision.

Withdrawing from the deal probably won’t be as catastrophic for business or the climate as overheated news coverage might suggest. The Paris deal relies on voluntary reductions in carbon emissions, according to standards each nation sets for itself. Countries can change their standards or simply not abide by them. Enforcement is weak, at best. And market incentives to adopt cleaner energy are becoming stronger, in some cases obviating the need for government incentives or mandates.

A headache for American businesses

But abstaining from a global agreement embraced by every other developed economy is a headache for American businesses all the same. Multinational companies want to sell their goods and services everywhere, which is easier when their home country is following the same agenda, more or less, as other countries they want to sell to. The Paris agreement will likely spur spending on new climate-friendly technologies, and US firms want a cut of that as well. They could lose out to foreign firms whose home governments do more to cultivate such technologies.

By appeasing America firsters and legacy industries such as coal, Trump has obviously fulfilled a campaign promise, while demonstrating solidarity with workers stuck in fading 20th century industries. But that will do nothing to increase demand for dirty coal or create jobs in industries the free market is closing the books on anyway. Natural gas burns much cleaner than coal and is nearly as cheap, thanks in large part to America’s fracking revolution. Pollution-free solar power is becoming cost-competitive without any need for government incentives. States such as California and many municipalities have their own reasons to encourage the use of renewables and cleaner-burning fuels, regardless of what Trump wants. That’s why Exxon and many other oil companies favor the Paris agreement—it helps them gain a foothold in the energy market that is slowly but surely replacing carbon.