Nearly four hundred U.S. companies, foundations, and investors are urging President-elect Donald J. Trump not to abandon the Paris climate agreement.
In an open letter, the As You Sow, Mulago, George Gund, McKnight, and Sierra Club foundations and companies such as DuPont, Gap, General Mills, Hewlett Packard, Hilton, Levi Strauss & Co., NIKE, Mars Incorporated, and Starbucks called on elected officials to reaffirm the U.S. commitment to the agreement and to continue to pursue policies designed to speed the transition to a low-carbon economy at home and abroad, with the goal of limiting the rise in global temperatures to 2°C. Trump, who has called climate change a hoax, said during the campaign that he would pull out of the Paris accord, dismantle the Environmental Protection Agency, and repeal the Obama administration's climate change policies.
Coordinated by C2ES, Ceres, the Environmental Defense Fund, Environmental Entrepreneurs, The B Team, The Climate Group, We Mean Business, and the World Wildlife Fund and presented at the United Nations climate conference in Marrakech, Morocco, the letter argues that "[f]ailure to build a low-carbon economy puts American prosperity at risk." It goes on to state that implementation of "the Paris Agreement will enable and encourage businesses and investors to turn the billions of dollars in existing low-carbon investments into the trillions of dollars the world needs to bring clean energy and prosperity to all." The signatories to the letter also pledged to do their own part to meet the Paris Agreement commitments.
"The enormous momentum generated by the business and investment community to address climate change cannot be reversed and cannot be ignored by the Trump administration," said Trillium Asset Management CEO Matt Patsky. "That train has left the station and to stand in its way is folly. Nevertheless, we know that now is the time to remind the incoming administration that virtually every company in the Fortune 500 and over $100 trillion in investor assets has acknowledged the reality of climate change and the need to address it head on."