February 9, 2022
Contact: Alec Gerlach, GerlachA@c2es.org, 703-516-0621
Top U.S. Companies Call for Congress to Refocus on Build Back Better Climate Provisions
WASHINGTON—27 leading companies today jointly urged Speaker of the House Nancy Pelosi (D-Calif.) and Senate Majority Leader Chuck Schumer (D-N.Y.) to enact the climate provisions of the Build Back Better framework to make the United States more competitive in a low-carbon global economy. The companies pointed to a need for decisive congressional action to help businesses and the communities and workers they support realize commercial opportunities from the export of low-carbon technologies, products, services and expertise.
The letter, organized by the Center for Climate and Energy Solutions (C2ES) and signed by major companies across the U.S. economy, includes top names in the steel, automotive, manufacturing, electricity generation, and tech industries. Signatories include ABB, ArcelorMittal, bp America, CMS Energy, Constellation, Cummins Inc, Daikin U.S. Corporation, DSM, DTE Energy, Duke Energy, Edison International, Entergy Corporation, Ford Motor Company, General Electric, HP Inc., Intel Corporation, LafargeHolcim, LanzaTech, National Grid, PG&E Corporation, Proterra, PSEG, Salesforce, Schneider Electric, Shell, Southern Company, and Trane Technologies.
“America is poised to lead the world in the transition to a vibrant and resilient net-zero economy – and to reap the benefits. Congress has a critical role to play in realizing that vision, by giving companies the clear and consistent framework they need right now to support long-term investments in growing sustainable industries and job creation,” said C2ES President Nat Keohane. “With bold action starting today, the United States can meet its 2030 target to reduce carbon pollution while also building a foundation for sustainable economic prosperity.”
Calling on U.S. House and Senate leaders to break the impasse to pass historic investment in climate and clean energy, the companies pointed to bold action on climate as a business imperative and wrote that advancing the climate and energy provisions of the Build Back Better framework would create a “foundation for the long-term prosperity and resilience of communities across the United States.” They added that these provisions, including tax credits and grants, would “harness market forces and help spur private sector investment” to help them meet long-term climate goals. The climate and energy investments leveraged by the Build Back Better framework would play a critical role in meeting the United States’ commitments under the Paris Agreement, wrote the 27 companies.
Collectively, the 27 companies joining the letter have more than 1.4 million employees and generate more than $1.2 trillion in annual revenues.
“As the world moves toward a net-zero future, investments made today will shape the competitive landscape in virtually every sector for decades to come. The United States has key advantages that Congress can leverage to put communities in the driver’s seat for a net-zero future,” said C2ES Vice President for Policy and Outreach Brad Townsend. “There’s broad support among American businesses, the American public, and within Congress to pass the climate provisions of Build Back Better. There’s no better time than now to lay the foundation for the net-zero economy.”
Read the full letter:
February 9, 2022
The Honorable Charles E. Schumer The Honorable Nancy Pelosi
Majority Leader Speaker
U.S. Senate U.S. House of Representatives
Washington, D.C. 20510 Washington, D.C. 20515
Dear Leader Schumer and Speaker Pelosi:
As leading companies from a range of sectors across the U.S. economy, we believe that ambitious climate action is a business imperative. Meeting this global challenge will require bold and timely leadership from federal policymakers, and we thank you for your work in advancing strong climate provisions as part of the Build Back Better framework. As negotiations on Congress’ legislative priorities proceed, we urge you to work to overcome the present impasse and see these historic climate and clean energy investments are realized. Their enactment would not only help solidify America’s global leadership in addressing the climate crisis, but also create a foundation for the long-term prosperity and resilience of communities across the United States.
America’s ability to compete in a low-carbon global economy will be shaped by the choices we make today. As leaders in our industries, we are committed to tackling the climate crisis and are making significant investments of our own to reduce emissions and create the low- and net-zero carbon products and services that will power the global economy in the decades to come. The actions you take to invest in U.S. leadership in the low-carbon economy will greatly affect the extent to which we can realize the commercial opportunities associated with the export of technologies, products and expertise. The climate and clean energy provisions in Build Back Better, including tax credits for innovation as well as grants and other funding to support communities in transition, would harness market forces and help spur private sector investment at the scale needed to meet our long-term climate goals. Crucially, these investments will also support the growth of sustainable domestic industries and the good jobs that come with them in communities across the country.
Last year alone, the U.S. experienced 20 weather and climate events exceeding $1 billion in costs, resulting in more than $145 billion in losses. As the human and economic costs of catastrophic wildfires, flooding and hurricanes, and other extreme weather continue to grow, bold and timely action is critical. In addition to their economic benefits, the investments spurred by the climate and clean energy provisions in Build Back Better will play a critical role in meeting our nation’s commitments under the Paris Agreement, including our 2030 nationally determined contribution. U.S. leadership is an indispensable part of a net-zero future, and we simply should not wait any longer to take meaningful action to address climate change.
Thank you for your continued leadership on this important issue. We stand ready to work with you and your staff to seize this opportunity and help position America to lead in the global transition to a net-zero future.
About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonpartisan, nonprofit organization working to forge practical solutions to climate change. Our mission is to advance strong policy and action to reduce greenhouse gas emissions, promote clean energy, and strengthen resilience to climate impacts. Learn more at www.c2es.org.