Major companies applaud Paris Agreement

WASHINGTON, October 15, 2016 – Eleven leading companies based or with major operations in the United States today applauded governments for swiftly bringing the landmark Paris Agreement on global climate change into force, and urged other governments to move expeditiously to formally join it.

In a statement organized by the Center for Climate and Energy Solutions (C2ES), the companies said they recognize the environmental, social, economic, and security risks posed by climate change.

“As businesses concerned about the well-being of our investors, our customers, our communities and our planet, we are committed to working on our own and in partnership with governments to mobilize the technology, investment and innovation needed to transition to a sustainable low-carbon economy,” the statement says.

The statement was endorsed by Berkshire Hathaway Energy, Calpine, HP Inc., Intel, LafargeHolcim, Microsoft, National Grid, PG&E, Rio Tinto, Schneider Electric, and Shell.

The Paris Agreement, reached in December, will enter into force Nov. 4, 2016, now that more than 55 countries representing more than 55 percent of global greenhouse gas emissions have formally ratified it. The agreement establishes “an inclusive, pragmatic and, hopefully, durable framework for progressively strengthening efforts globally to address the causes and consequences of climate change,” the statement says.

It says the Paris Agreement supports the private sector’s role in the transition to a low-carbon future by providing long-term direction, promoting transparency, addressing competitiveness, and facilitating carbon pricing.

“The swift entry into force of the Paris Agreement is the clearest sign yet that the world is mobilizing to fight climate change,” said C2ES President Bob Perciasepe.

“The signals from Paris ­– that it’s time to invest in a low-carbon future ­– have already been received,” Perciasepe said. “Many companies recognize the costly impacts of climate change, and see opportunities for growth by developing and investing in cleaner, more efficient energy and transportation systems for the future.”

“Now it’s up to governments to fulfill their promises through strong domestic policies that will meet their initial targets and go further in the years ahead,” Perciasepe said.

Read the full business statement:

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