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May 1, 2019 Ryan Martel Federal Policy Climate change poses an urgent threat to the American economy. For many companies, the physical and economic dangers of climate change are clear, and delaying action is no longer a viable option.
Last fall, a series of reports made very real the present risks of climate change. These reports underscore that keeping average global temperature rise to no more than 1.5-degrees Celsius and avoiding the worst effects of climate change requires dramatically increasing the pace and scale of greenhouse gas (GHG) emission reductions.
Fortunately, companies across all sectors of the economy understand what is at stake and are already heeding this pressing call for action, by taking concrete steps to accelerate the transition to a zero-carbon economy and ensure they remain competitive in the global economy. More and more, major U.S. companies, including Apple, Bank of America, Citigroup, Coca-Cola, Kellogg’s, Mars Incorporated and Nike, are making ambitious commitments to reduce emissions in their operations and across their supply chains. They do this not just because it is the right thing to do, but also because they have done the math and know that it makes business sense.
However, the private sector cannot tackle climate change on its own. The sum total of corporate commitments to reduce emissions are insufficient to meet long-term climate goals and mitigate the impacts of a warming planet. We also need strong policies such as a well-designed price on carbon.
Thanks in part to the cascade of new scientific findings showing the devastating effects of climate change and to an energized U.S. House of Representatives, momentum is building for climate action at the federal level. While the Green New Deal has certainly received significant attention, there has been a slew of other activity among members on both sides of the aisle—including several bipartisan carbon pricing proposals introduced within last year. We use the cookies on this site to enhance your