US Companies Pledge $140 Billion to Combat Climate Change

Strategic Insights -

Thirteen major US companies, including Alcoa, Apple, and Microsoft, are committing to invest over $140 billion in climate change efforts as part of the American Business Act on Climate Pledge. The companies, which also include Bank of America, Coca-Cola, and Wal-Mart, are pledging to reduce their emissions, increase low-carbon investments, and deploy more clean energy. This move is seen as a significant show of support for a strong outcome in the Paris climate negotiations this December.

Key Takeaways:

  • The 13 companies signing the climate pledge are Alcoa, Apple, Bank of America, Berkshire Hathaway, Cargill, Coca-Cola, General Motors, Goldman Sachs, Google, Microsoft, PepsiCo, United Parcel Service, and Wal-Mart.
  • The companies are committing to invest over $140 billion in low-carbon initiatives, including 1,600 megawatts of new renewable energy.
  • Each company has announced specific goals to reduce emissions, cut water intensity, and purchase 100% renewable energy.
  • Company-specific goals include cutting emissions as much as 50%, reducing water intensity as much as 15%, and purchasing 100% renewable energy.
  • President Barack Obama's climate plan aims to cut almost 6 billion tons of carbon pollution by 2030, equivalent to taking all cars in the US off the road for over four years.

Statistics:

  • 13 companies committing to invest over $140 billion in low-carbon initiatives.
  • 1,600 megawatts of new renewable energy to be deployed as part of the climate pledge.
  • $140 billion in new low-carbon investment.
  • 6 billion tons of carbon pollution to be cut by 2030.
  • 50% reduction in emissions by some companies.
  • 15% reduction in water intensity by some companies.

Sources:

  • the White House
  • https://www.whitehouse.gov/the-press-office/2015/07/27/fact-sheet-white-house-launches-american-business-act-climate-pledge
  • TheStreet (http://www.thestreet.com/story/13003182/1/10-stocks-every-millennial-should-add-to-their-portfolio-right-now.html)
  • TheStreet (http://www.thestreet.com/story/11785758/1/when-must-i-buy-a-stock-to-get-the-dividend.html)