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White House announces climate pledges from 81 companies representing $3 trillion

Date
19 October 2015
White House announces climate pledges from 81 companies representing $3 trillion

NEW YORK: Procter & Gamble, Nike, Johnson & Johnson, Ikea and Starbucks are among 81 companies that have signed on to the American Business Act on Climate Pledge, announced today by the White House, in support of concerted business action on climate change and a strong outcome at COP21 in Paris this December.

Climate pledges from 68 additional companies have joined the 13 original signatories, representing over US$3 trillion in annual revenue, a combined market capitalization of over $5 trillionand 9 million employees across the US.

The list of companies includes an extensive number of RE100 corporate partners including: Goldman Sachs; Ikea USA; Johnson & Johnson; Mars; Nestle; Nike; Procter & Gamble; Salesforce; Starbucks; Unilever; Autodesk; and DSM North America.

Amy Davidsen, US Executive Director of The Climate Group, notes: Today’s commitment from leading businesses to tackle climate change is a bold signal we are shifting toward a global low carbon economy. Companies recognize acting on climate makes for a double-win: they can reduce and stabilize their energy bills through the use of renewable energy, while protecting their enterprises from the fluctuating prices of fossil fuels.

"This is why top companies have joined our RE100 campaign, and are now part of this group voicing support for a strong climate agreement in Paris. As Climate Week NYC has demonstrated, American businesses are increasingly recognizing their role in leading the world to a cleaner, more prosperous low carbon economy – and they have everything to gain by doing so.

Building on the launch of the American Business Act on Climate Pledge announced in July, the recent company-specific pledges set individual targets to reduce emissions, deploy more clean energy and expand low carbon investments in order to build sustainable businesses that ambitiously address climate change.

Business initiative is crucial to delivering the emissions cuts countries will pledge to make in the international climate change negotiations taking place in Paris this December, and this new announcement reflects growing support for a global climate deal from American companies.

Ahead of the Paris climate conference, the US government has set a goal of reducing greenhouse gas emissions economy-wide by 26-28% below 2005 levels by 2025.

At Climate Week NYC last month, RE100 announced new Fortune 500 companies which are pledging to source 100% of their electricity from renewable energy to reduce their emissions. A total of 38 major businesses, including names heard today such as Goldman Sachs, Johnson & Johnson and Nike, have now joined The Climate Group-led RE100 campaign in showcasing the compelling business case for renewables.   

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By Andrew Pickens

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