The White House launched the American business Act on Climate Pledge in July and already has 154 companies signed, in which 73 companies were newly added on the first day of the COP21.
The 154 companies demonstrate their support for the Act that aims to intervene climate change through achieving goals include:
The companies have operations in all 50 states, employ nearly 11 million people, represent more than $4.2 trillion in annual revenue, and have a combined market capitalization of over $7 trillion.
As the companies signed the American Business Act on Climate Pledge, they are voicing support for a strong outcome from the COP21 held in Paris. They also show an ongoing commitment to climate action as they shall reduce their emissions, increase low-carbon investment, and deploy more clean energy to build more sustainable businesses.
Obama’s act
President Obama unveiled the Clean Power Plan in August 2015 to implement new plans to increase the nation’s installation of renewable energy for reducing greenhouse gas emissions. The Clean Power Plan aims to cut 32% of the energy sector’s carbon emissions by 2030 and to eliminate 6 million tons of carbon pollution through 2030, an amount equivalent to taking all the cars in the U.S. off the road for more than four years.
Also targeted the Clean Power Plan is to help increase energy efficiency, boost low-carbon investing, and make solar energy more accessible to low-income Americans.
The measures taken by the public and private sectors enabled President Obama to set an ambitious but achievable goal of reducing greenhouse gas emissions economy-wide by 26-28% by 2025 last November, noted the White House.