Putin says 'don't worry, be happy' over Trump's decision to quit Paris climate deal

Russia President Vladimir Putin suggested there was still plenty of time for world leaders to reach an agreement regarding the historic 2015 Paris climate deal, despite President Donald Trump announcing he would withdraw the U.S. from the pact.

"Don't worry… be happy," Putin quipped, as he addressed an audience at the St Petersburg International Economic Forum on Friday.

"This accord has not yet come into effect; it is supposed to come into effect as of 2021… so we still have time. If we are all constructive in what we do, there are things that we can agree on," Putin said.

Trump announced he would pull the U.S. out of the Paris climate agreement on Thursday, in a move which sets the world's largest economy apart from almost every other nation.

The U.S. president said he would seek to begin fresh talks to re-enter the accord in search of a deal which was more "fair" for America, however, he faced an immediate backlash from several European governments, business leaders and environmental organizations.

'We must not steal from our next generation'

The Paris climate accord is designed to prevent global temperatures exceeding 2 degrees Celsius above pre-industrial levels. The landmark accord's 195 signatories, almost every country in the world, are required to create national plans to scale back on greenhouse gas emissions.

India's Prime Minister, Narendra Modi, was careful not to directly criticize President Trump on Friday and while speaking alongside Putin, argued the world must not "exploit nature".

"We must not steal something that rightfully belongs to the next generation. We have to make sure that we leave behind a beautiful and bountiful nature for our next generation so that they can live peacefully, they can breathe fresh air and live a good life," Modi added.

More than 20 years of climate diplomacy went into securing the Paris climate deal in 2015.

— Reuters contributed to this report.