Corporations Support Aggressive Emission Targets

Corporations and investors signed an open letter to President Biden supporting his administration’s commitment to climate action.

We Mean Business is a global coalition that works with the world’s most influential businesses to encourage climate action within the corporate world and government. It leverages the power of the business world to promote public policy that accelerates the transition to a zero-carbon economy.

The Coalition is calling for the U.S. to cut greenhouse gas emissions by at least 50 percent below 2005 levels by 2030.

The group claims that the goal is achievable. Signatories of the letter represent more than $3 trillion in annual revenue, while employing approximately 6 million workers across all 50 states.

“The United States must address the climate crisis at the pace and scale that it demands,” said Dr. Maria Mendiluce, Executive Director of the We Mean Business Coalition. “The U.S. must adopt an emissions reduction target that will place the country on a credible pathway to reach net-zero emissions by 2050.”

The letter demonstrates the U.S. business and investor communities’ strong support for a highly ambitious 2030 emissions reduction target, or Nationally Determined Contribution (NDC) pursuant to the Paris Agreement, in pursuit of reaching net-zero emissions by 2050.

President Biden took action his first day in office to return the United States to the Paris Agreement. Just a few days later, he announced his intention to convene a leaders summit to galvanize efforts by the major economies to tackle the climate crisis.

“The U.S. business community is committed to doing its part to reduce emissions. Companies want to work with the Biden administration toward a better future for all,” said Mendiluce.

“I applaud businesses and investors for raising their voices. We can cut U.S. emissions in half by 2030. This is what the climate crisis requires. It will make the country more competitive, while creating good jobs.”

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