More than 600 businesses and investors signed and released a notice on Tuesday urging president-elect Donald Trump to pay attention to climate change – a move that coincides with the start of Senate hearings to confirm his cabinet nominees, who are poised to ignore existing climate policies.
The letter contains signatures from approximately 200 more companies and investors than when it was initially submitted following the election in November, including Campbell Soup, Johnson & Johnson and the New York State Retirement Fund. The prior plea was agreed upon by companies like Monsanto , eBay, Levi Strauss and Staples.
The letter desires Trump to continue policies that fight global warming, such as the Clean Strength Plan created by the Obama administration to slice emissions from coal power vegetation. The letter also petitions Trump to invest in low-carbon energy at home plus abroad and remain committed to the particular Paris agreement As an utility, we are a critical facilities, so we make big investments within our system, ” says Melissa Lavinson, chief sustainability officer for PG& E Corp, the parent associated with Pacific Gas and Electric Company in California that signed the particular letter. “ Climate change make a difference our ability to safely, affordably plus reliably serve our customers. For instance , more heat waves mean a lot more cooling days, and sea degree rise can affect coastal infrastructure. Therefore for us taking action on weather change is very important. ”
The letter reflects the wish that Trump, as a businessman, can heed the declaration of a lot of American companies that climate alter is real and could pose the threat to their financial health.
Whether the petition will make any kind of impression on the president-elect, who has claimed in the past that will climate change is a hoax and wishes to overlook the Paris agreement, is unclear.
Since the letter was first launched nearly three months ago, Trump offers picked advisors and cabinet users who are largely hostile toward environment regulations and have close ties towards the fossil fuel industry.
For example , Trump nominated climate change denier Scott Pruitt , a former Oklahoma lawyer general and a driving force at the rear of the lawsuit against the Clean Energy Plan, to head the Environmental Safety Agency.
The nominee for energy secretary, Rick Perry, was governor of Texas, the particular oil and wind energy funds of America. While he backed the expansion of the state’ ersus wind energy development, he produced climate change skepticism part of their platform during a failed bit intended for presidency in 2011. Perry also as soon as said he desired to eliminate the very section he’ s now expected to business lead.
Trump wants the particular outgoing ExxonMobil CEO Rex Tillerson as secretary of state, a choice that’ s led some environmentalists to dub this “ an epic mistake” .
Representatives from Trump’ s team did not respond to the particular Guardian’ s requests for remark.
While environmental organizations are gearing up for an intense battle with the new government, evidence continues to come out that points to the substantial company risks posed by rising worldwide temperatures, such as dwindling supplies associated with raw materials and water.
Extreme heat, for example , is bad for the economy , causing crop failure and decreased worker productivity, according to a new research from Stanford University and the College of California at Berkeley.
The Sustainability Sales Standards Board, a nonprofit team that sets standards for business sustainability disclosures to investors and it is chaired by former New York Gran Michael Bloomberg, estimates that significant climate risks – such as severe weather conditions events – exist for most from the companies it tracks, which symbolize $27. 5tn, or 93%, people stocks as measured by their market value.
There is also evidence that will companies that embrace sustainability really perform better financially than those that not. A 2014 study by the nonprofit CDP , which provides environmental data and environment risk analysis, found that companies that actively manage and policy for climate change achieved an 18% higher return on investment than companies that will weren’ t planning for climate modify, and 67% higher than companies that will refused to disclose their emissions.
Investors are increasingly viewing opportunities to address climate change. Almost two dozen of the world’ s i9000 most successful business leaders, business owners and venture capitalists such as Amazon’ s Jeff Bezos, Virgin’ s i9000 Richard Branson and Alibaba originator Jack Ma, plan to invest just as much as $1bn in an account called Breakthrough Power Ventures, led by Bill Entrance, that aims to reduce greenhouse gasoline emissions by financing clean power technology.