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US firms and investors call on Trump to tackle climate change

A coalition of 530 US companies and 100 institutional investors have called on President-elect Donald Trump and politicians in Congress to embrace a low carbon economy and tackle climate change ahead of Trump’s inauguration later this month.

In a statement, which is also addressed to the the outgoing President Obama and global leaders, the signatories said they re-affirmed their deep commitment to addressing climate change through the implementation of the Paris Climate Agreement.

The companies and investors called on their elected politicians to:

  • Continue  low-carbon policies in order to allow the US to meet or exceed its promised national commitments
  • Invest in the low-carbon economy at home and abroad in order to give financial decision-makers clarity and boost investor confidence.
  • Continue to participate in the Paris Climate Agreement in order to provide the long-term direction needed to limit global warming.
Lars Petersson, President of IKEA-USA

Lars Petersson, President of IKEA-USA supporting calls to maintain focus on climate change

During his election campaign Trump questioned the reality of climate change and has appointed Scott Pruitt, who has also raised doubts about global warming to head the Environment Protection Agency.

The company signatories, include DuPont, Gap, General Mills, Hewlett Packard Enterprise, Hilton, IKEA, Johnson & Johnson, The Kellogg Company, Levi Strauss, L’Oreal USA, NIKE, Mars, Starbucks and  Unilever. Ceres, the environmental pressure group co-ordinating the campaign said these signatories collectively took in nearly $1.15 trillion in annual revenue, were headquartered across 44 US states, and employed about 1.8 million people.

Lars Petersson, president of IKEA US said: “All parts of society have a role to play in tackling climate change, but policy and business leadership is crucial. The Paris Agreement was a bold step towards a cleaner, brighter future, and must be protected. IKEA will continue to work together with other businesses and policymakers to build a low-carbon economy, because we know that together, we can build a better future.”

The investor signatories, which collectively manage more than $2 trillion in assets, include institutional investors such as the New York State Common Retirement Fund, the California State Teachers Retirement System (CalSTRS), Westpath Benefits and Investments, and Trillium Asset Management.

Jonas Kron, senior vice president at Trillium Asset Management said:  With tens of billions of dollars of US renewable energy investment in the works this year alone, and far more globally, the question for American political leadership is whether they want to harness this momentum and potential for economic growth. It is critically important to realise this is an opportunity that state policymakers can take advantage of, too, not just national leaders.”

What do you think?