Thirteen of the largest companies in the American economy worked with the Obama administration to launch the American Business Act on Climate Pledge at a White House event on July 27th. The companies include Alcoa, Apple, Bank of America, Berkshire Hathaway Energy, Cargill, Coca-Cola, General Motors, Goldman Sachs, Google, Microsoft, PepsiCo, UPS, and Walmart. In the pledge, they agree to:
- Voice support for a strong climate action agreement in upcoming international climate change talks in Paris at COP21.
- Each company announcing significant new pledges and other actions.
- Collectively provide $140 billion in new, low carbon investment and more than 1,600 megawatts of renewable energy
Pledges represent $1.3 trillion in revenue and a combined market cap of $2.4 trillion. Various company pledges include specific goals to cut emissions as much as 50%, purchase 100% renewable energy, and pursue zero net deforestation in supply chains
A second round of pledges will be announced this fall.
All in, the Climate Pledge shows increasing pressure on large companies to reduce carbon emissions and address other environmental factors on a significant scale. Read more about the details of the first 13 pledges.