Large US companies sign White House climate pledge

OREANDA-NEWS. October 20, 2015. Nearly 70 companies, including generators Pacific Gas & Electric (PG&E) and Calpine, have signed on to a commitment to support strong global action against climate change, the White House said today.

The companies agreed to sign the American Business Act on Climate Pledge, which calls for UN climate talks to reach an agreement in Paris in December and includes pledges for reducing greenhouse gas (GHG) emissions, increasing investment in low-carbon energy and other actions.

Combined with pledges announced in June, 81 companies have signed on to the White House initiative, including Apple, Coca-Cola, Facebook, Goldman Sachs, Johnson and Johnson, McDonald's, Nike, UPS and Walmart. Together, the companies operate in all US states and have more than \\$3 trillion in annual revenue and a combined market capitalization of more than \\$5 trillion.

PG&E, the largest investor-owned utility in California, said it would provide electricity that is more than 60pc carbon-free by 2020 and support implementation of the US Environmental Protection Agency's Clean Power Plan to cut CO2 from existing power plants.

Independent power producer Calpine said it would support the Clean Power Plan by working with states where it operates to develop effective compliance plans. Calpine has 83 power plants in 19 states, including California, Pennsylvania, New York and Texas.

The White House says these private-sector commitments complement its own actions to fight climate change and will allow the US to cut its total GHG emissions by 26-28pc by 2025, the reduction it has pledged as part of the UN talks. The administration says its Climate Action Plan will cut nearly 6bn tons of CO2 through 2030 and the Clean Power Plan will cut energy sector emissions by 32pc by 2030.

The White House plans to announce another round of pledges from US businesses this fall.

US senator Sheldon Whitehouse (D-Rhode Island) welcomed the new corporate commitments, but noted that such efforts have had little impact on congressional action to date.

"For that to change, these companies will have to take responsibility for the advocacy efforts of groups that represent them in Congress, and align their advocacy with their policy," Whitehouse said.