Thirteen of the largest companies from across the U.S. economy helped launch the White House’s “American Business Act on Climate Pledge” by committing to reduce carbon emissions and invest in clean energy.
Their promises—and similar commitments by many other companies—will create good jobs in thriving industries, strengthen national security, and keep our air and water clean and healthy—for today’s children and future generations. The 13 companies—Alcoa, Apple, Bank of America, Berkshire Hathaway Energy, Cargill, Coca-Cola, General Motors, Goldman Sachs, Google, Microsoft, PepsiCo, UPS, and Walmart—represent more than $1.3 trillion in revenue in 2014 and a combined market capitalization of at least $2.5 trillion.
According to the White House, all told, “today’s announcements total at least $140 billion in new low-carbon investment and more than 1,600 megawatts of new renewable energy, in addition to ambitious, company-specific goals to cut emissions as much as 50 percent, reduce water intensity as much as 15 percent, purchase 100 percent renewable energy, and pursue zero net deforestation in supply chains.”
The pledge also voices support for a strong outcome in the Paris climate negotiations this December.
THE AMERICAN BUSINESS ACT ON CLIMATE PLEDGE
We applaud the growing number of countries that have already set ambitious targets for climate action. In this context, we support the conclusion of a climate change agreement in Paris that takes a strong step forward toward a low-carbon, sustainable future.
We recognize that delaying action on climate change will be costly in economic and human terms, while accelerating the transition to a low-carbon economy will produce multiple benefits with regard to sustainable economic growth, public health, resilience to natural disasters, and the health of the global environment.
We put forth our pledges as follows: