Executives call on Biden to slash greenhouse gas emissions to curb climate change

https://www.cnbc.com/2021/04/13/executives-call-on-biden-to-cut-emissions-to-combat-climate-change-.html

PUBLISHED TUE, APR 13 202110:00 AM EDTUPDATED TUE, APR 13 202112:40 PM EDTEmma Newburger@EMMA_NEWBURGERSHAREShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailKEY POINTS

  • More than 300 businesses have called on President Joe Biden to nearly double U.S. targets to reduce planet-warming emissions below 2005 levels by 2030.
  • The push by leaders from companies like Google, Apple, Walmart and Unilever comes ahead of the global leaders’ climate summit the Biden administration is hosting next week.
  • The Obama administration set out to cut emissions by up to 28% below 2005 levels by 2025, but former President Donald Trump halted federal efforts to meet that target.
U.S. President Joe Biden joins a CEO Summit on Semiconductor and Supply Chain Resilience via video conference from the Roosevelt Room at the White House on April 12, 2021 in Washington, DC.

U.S. President Joe Biden joins a CEO Summit on Semiconductor and Supply Chain Resilience via video conference from the Roosevelt Room at the White House on April 12, 2021 in Washington, DC.Amr Alfiky | Getty Images

More than 300 businesses and investors are calling on President Joe Biden to nearly double U.S. targets to reduce planet-warming emissions below 2005 levels by 2030.

In a letter published Tuesday, corporate leaders from companies like GoogleAppleWalmartUnilever and General Electric praised the Biden administration for rejoining the Paris climate accord and aggressively addressing climate change.

The push by executives of some of the country’s largest companies to set a goal to slash emissions of carbon dioxide, methane and other gases by at least 50% — a target in line with what environmental groups want — comes ahead of the global leaders’ climate summit the administration is hosting April 22.

The White House plans to unveil a stricter emissions target for the Paris accord on or before the summit of world leaders. The Obama administration set out to cut emissions by up to 28% below 2005 levels by 2025, but former President Donald Trump halted federal efforts to meet that target and pulled the U.S. from the Paris accord.

The companies that signed the letter comprise more than $3 trillion in annual revenue and more than $1 trillion in assets. The letter indicates a shift by the private sector to address their own climate change impact and better align with the goals of the Biden administration, which has vowed to put the country on a path to net-zero carbon emissions by 2050.

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