Global agreement helps manage climate risks, generates jobs
Major companies, including across the U.S. economy are urging President Trump to keep the United States in the Paris climate change agreement. The U.S. must stay at the table to help steer efforts to manage rising climate risks and compete in expanding global clean energy markets, according to a letter to the president Trump organized by the Center for Climate and Energy Solutions.
“By committing all countries to action, the agreement expands markets for innovative clean technologies, generating jobs and economic growth,” the letter says. “U.S. companies are well positioned to lead, and lack of U.S. participation could put their access to these growing markets at risk.’’
The letter was signed by BP, DuPont, General Mills, Google, Intel, Microsoft, National Grid, Novartis Corporation, PG&E, Schneider Electric, Shell, Unilever and Walmart. These Fortune 500 companies are among the top U.S. retail, tech, power, energy, pharmaceutical, manufacturing, and consumer goods companies, with a combined market capitalization of nearly $2.5 trillion.
The Paris Agreement has been ratified by 143 countries, including the United States. The White House has said a decision on whether to stay in the agreement is due before the president attends the G7 Summit in Italy in late May.
The companies told the president that U.S. participation in the Paris Agreement helps them compete and plan future investments by ensuring a more balanced global climate effort, setting long-term objectives, improving transparency, and encouraging market-based approaches to minimize costs.
The letter also notes that strengthening global action over time will reduce future climate impacts that damage or disrupt business facilities and operations, supply chains, agricultural productivity, and water supplies.
“U.S. business interests are best served by a stable and practical framework facilitating an effective and balanced global response,” the letter says. “We believe the Paris Agreement provides such a framework.”
C2ES President Bob Perciasepe said, “Business leaders recognize the costly impacts of climate change, and the opportunities for jobs and growth in a clean technology future.”
“Corporate leadership was critical to delivering the Paris Agreement,” Perciasepe said. “But the agreement will only achieve its full promise if the U.S. stays on board. These companies from across the U.S. economy are laying out the clear business case for doing just that.”