Major U.S. Companies Call for Swift Passage of Ambitious Federal Climate Policy to Build an Affordable, Competitive Clean Economy
February 15, 2022 /3BL Media/ - Chief executives and other senior leaders from dozens of influential U.S. companies, including CommonSpirit Health, DSM North America, General Motors, LafargeHolcim, New Belgium Brewing, Salesforce, Siemens USA, among others, will meet this week with congressional offices to urge swift passage of a federal reconciliation bill that includes historic climate, clean energy, and environmental justice investments.
The companies are asking Congress to swiftly approve a reconciliation package with $550 billion in fiscally-sound investments in clean power, transportation, industry, and agriculture, as well as environmental justice, at its foundation. Companies and their investors support these measures because they will reduce costs for businesses and consumers, bolster domestic manufacturing of affordable, reliable clean energy technologies to meet growing global demand, strengthen supply chains against delays and disruptions, and deliver much-needed benefits to disadvantaged communities across the country. Passage of such a package in the coming weeks is critical if the U.S. is going to have a chance at meeting its goal to cut emissions in half by 2030 and build a more just and equitable economy before it’s too late.
“DSM is committed to pressing members of Congress to pass the urgent, historic climate investments set forth in the existing reconciliation bill,” said Hugh Welsh, president and general counsel, DSM North America. “We know from experience that investing now will be infinitely more cost effective than putting off the problem for another day.”
“At GM, we know that with the right policies, we have a once-in-a-generation opportunity for our nation to become a leader in electrification and build a more resilient, sustainable economy by making electric vehicles more affordable and accessible,” said Kristen Siemen, chief sustainability officer at GM. “Achieving an equitable clean energy future relies on the collaboration between the American auto industry and the U.S. government to support good paying jobs, consumer adoption, a robust charging infrastructure, and meaningful investment in U.S. R&D, manufacturing and supply chains. We look forward to continuing to work together to bring everyone in on the transition to a more sustainable future.”
“Siemens supports bold federal action on climate. We understand the urgency to make climate investments that will accelerate clean technologies and build infrastructure capable of decarbonizing the U.S. economy. Combined, these efforts will not only help to meet climate goals, but will create well-paying jobs, address equity and fuel a strong economy,” said Barbara Humpton, president and CEO of Siemens USA. “We have the tools and technologies we need to transform the economy and build a sustainable future. We look forward to working with Congress and the Biden administration to make it happen.”
“Once again, major employers across the U.S. economy are showing lawmakers that they understand the urgency of ambitious climate policy action to keep the nation competitive,” said Zach Friedman, director of federal policy at Ceres. “Passing a package with the $550 billion in clean energy investments that lawmakers and the White House agree on will help build an economy where U.S. workers, businesses, and families can thrive. These investments can supercharge the infrastructure bill to deliver good, new jobs in industries in every state and ensure that clean energy and transportation are affordable and accessible to all. Now is the time for lawmakers to make and take a reconciliation deal with climate, clean energy, and environmental justice at its foundation.”
This week’s meetings come as President Joe Biden and House and Senate lawmakers prepare to ramp up negotiations again on a budget reconciliation package. Companies and investors have spent the past year advocating for federal climate policy action that will put the U.S. in the strongest possible position to address the threat of the climate crisis to the economy and financial markets, lower utility costs with reliable and affordable clean power, and capitalize on the economic opportunities of the clean energy transition.
In December, more than 400 investors and companies of all sizes and industries from across the country sent a letter to members of Congress calling for the “swift enactment” of the historic climate investments included in the Build Back Better reconciliation package.
“Other countries are shifting their policies and economies in this direction, and the U.S. cannot afford to miss this chance to unlock its private sector innovation to command the markets of today and tomorrow,” the letter states. “Congress must act now to seize this global leadership opportunity and confront the climate crisis.” Building on this call to action, 27 major companies across the U.S. economy wrote to members of Congress in February urging them to pass historic investments in climate and clean energy to make the U.S. more competitive in a low-carbon global economy. Signatories included top names in the steel, automotive, manufacturing, electricity generation, and tech industries such as Cummins Inc, Duke Energy, Ford Motor Company, General Electric, Intel Corporation, LafargeHolcim, National Grid, Salesforce, Schneider Electric, and Trane Technologies, among others.
About Ceres
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.
Media Contact: Helen Booth-Tobin, booth-tobin@ceres.org, 617-247-0700 ext. 214
