Thirteen giant companies joined the Obama administration’s Act on Climate initiative, announcing at least $140 billion in new low-carbon investment and more than 1,600 megawatts (MW) of new renewable energy, the White House said.
The pledge from Coca-Cola, Walmart, Apple, Google, Bank of America, Goldman Sachs, and other big-name companies comes in advance of the United Nations climate talks in Paris at the end of the year, and is meant to demonstrate industry support for strong carbon reduction goals.
“We recognize that delaying action on climate change will be costly in economic and human terms, while accelerating the transition to a low-carbon economy will produce multiple benefits with regard to sustainable economic growth, public health, resilience to natural disasters, and the health of the global environment,” states the pledge, set to be announced at the White House with Secretary of State John Kerry.
This announcement is the first of two planned industry pledges, the White House said in a statement. A second round of companies is expected to make pledges in the fall.
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