Date
30 March 2017
US giants Alcoa, Bank of America, Apple, Google, Microsoft, General Motors and Cargill are among more than a dozen signatories to a US$140 billion initiative to combat carbon emissions. Photo: Bloomberg
US giants Alcoa, Bank of America, Apple, Google, Microsoft, General Motors and Cargill are among more than a dozen signatories to a US$140 billion initiative to combat carbon emissions. Photo: Bloomberg

US giants throw U$140 bln behind carbon emission fight

More than a dozen US companies are throwing more than US$140 billion behind the fight to cut carbon emissions.

The initiative is part of a new program by Washington in the run-up to the UN climate change summit later this year.

The Wall Street Journal is reporting that a White House signing ceremony will be held Monday among the major players including Bank of America Corp., General Motors Co., Cargill Inc. and Alcoa Inc.

Secretary of State John Kerry and White House adviser Brian Deese will attend.

Also signing the pledge are Google Inc., Apple Inc. and Microsoft Corp. 

The Environmental Protection Agency is expected to issue final rules cutting carbon emissions from US power plants as soon as next week.

These regulations are the biggest driver behind the administration’s efforts to forge a global agreement at the UN conference in Paris to cut carbon emissions.

The administration sees corporate support for climate action as key to building momentum for the Paris talks in December.

“It’s significant because they are carbon-intensive, energy-consuming companies making a bottom-up commitment to address climate change,” said Kevin Book, managing director at ClearView Energy Partners, a Washington-based analysis firm.

None of the companies taking part in the event produce oil, natural gas or coal — the sector responsible for emitting most of the carbon scientists say is causing global warming.

Most US fossil-fuel companies have either resisted or are silent on efforts to cut carbon emissions, but in June, six European oil and natural gas companies sent a letter to the UN calling for a price on carbon emissions.

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