July 13, 2021
Contact: Alec Gerlach, GerlachA@c2es.org, 703-516-0621
Top U.S. Companies Call for Significant
Net-Zero Infrastructure Investments
WASHINGTON—Forty-one leading companies today called on Congress to prioritize investments that can accelerate the transition to a resilient net-zero economy in any infrastructure legislation. The companies, in a joint statement organized by the Center for Climate and Energy Solutions (C2ES), cited the physical and economic risks posed by climate change, which have already begun to critically stress infrastructure, and pointed to the urgency of low-carbon infrastructure investment as an engine for economic growth, innovation, and global competitiveness.
“Sizable investments in resilient, low-carbon infrastructure are needed to move the country toward a net-zero future. Access to clean, reliable, and affordable energy is as crucial to American families as it is to our nation’s largest companies,” said C2ES President Nathaniel Keohane. “These companies understand that climate change poses a significant risk to global commerce—and that the shift to a net-zero future creates tremendous opportunities. They know firsthand that reliable, modern infrastructure is a necessity for America to lead the world in the clean energy economy of the twenty-first century.”
Signatories to the statement include dozens of major companies across the U.S. economy, including top names in the power, tech, finance, manufacturing, chemicals, oil and gas, cement, mining, food, and retail sectors. It was endorsed by ADM; AECOM; American Electric Power; Amazon; American Airlines; Arconic Corporation; Arizona Public Service Company; Bank of America; BASF Corporation; BHP; Carrier Corporation; Citi; CMS Energy; Danone North America; Dominion Energy; Dow, Inc.; DSM; Duke Energy; DuPont; Edison International; Entergy Corporation; Exelon; HP Inc.; IBM; Intel Corporation; Johnson Controls; LafargeHolcim; LanzaTech; Mars, Incorporated; National Grid; NRG Energy; Ørsted Offshore, North America; PG&E Corporation; PSEG; Schneider Electric; Shell; Siemens Energy, Inc.; Southern Company; Trane Technologies; Unilever United States; and Wells Fargo.
Modern infrastructure will be necessary for a resilient, net-zero economy. The companies coming together for this statement identified climate action as a business imperative to address the physical and economic risks of climate change. They are calling for these infrastructure investments to not only help reduce their own emissions but also enable investments in the clean energy systems that will shape the global economy for decades to come.
Collectively, the 41 companies joining the statement have nearly 4 million employees and generate close to $1.7 trillion in annual revenues.
Many of the companies that signed this joint statement urging low-carbon infrastructure investment also signed a December statement calling for incoming President Joe Biden and the new Congress to work together to enact ambitious, durable, and bipartisan climate policies.
C2ES organized both corporate statements as part of its Climate Innovation 2050 initiative, which works with companies to examine U.S. decarbonization challenges and solutions. The initiative earlier produced Getting to Zero: A U.S. Climate Agenda to outline policies to achieve U.S. carbon neutrality, and Climate Policy Priorities for the New Administration and Congress, a set of company-informed policy recommendations for Congress.
“We are seeing increased ambition from companies to reduce emissions across their businesses and supply chains, alongside a growing sense of urgency for policy to help enable those reductions,” said Brad Townsend, C2ES Vice President for Policy and Outreach. “Through initiatives like Climate Innovation 2050, C2ES has worked with companies to identify solutions that can drive our emissions down and our economy forward. These companies are taking the next step to engage policymakers to deliver those solutions.”
Read the full business statement:
IN SUPPORT OF NET-ZERO INFRASTRUCTURE INVESTMENT
Infrastructure is the backbone of our nation’s economy. Climate change has already begun to critically stress that infrastructure, and our need for a rapid shift toward a low-carbon future has fundamentally altered the infrastructure needed to grow our economy in that future. Sustained U.S. global leadership on climate change is crucial, and embracing ambitious commitments in support of the goals of the Paris Agreement is an important step. As many of us urged in a December statement, the Biden administration and Congress must work together to pass ambitious, durable climate policy to meet this global challenge. The infrastructure package now being discussed represents an invaluable opportunity, and we urge Congress to prioritize investments that will facilitate the transition to a resilient, net-zero economy.
There is an urgent imperative to act now to reduce the economic and physical risks of climate change. Modern, resilient infrastructure can not only reduce these risks, but also create significant economic opportunity in cities and small towns across America. We view climate action as a business imperative. We are taking ambitious actions to reduce emissions and making significant investments in clean energy systems that will shape the global economy in the decades ahead. Success on both fronts requires access to reliable, affordable, clean electricity and clean thermal energy for industry, buildings, decarbonized freight and passenger transportation, as well as broadband and other digital infrastructure. Our competitiveness as a nation relies on access to infrastructure that enables innovation and incubates the low-carbon industries of tomorrow in our communities.
Throughout our nation’s history, public investments in infrastructure have laid the groundwork for economic growth, spurring new industries and innovation, enhancing America’s competitiveness, and cementing U.S. global leadership. Congress has an opportunity to reassert that leadership by making investments in infrastructure, including projects built with low-carbon materials, that will not only ensure continued economic opportunity, but also help meet the needs of marginalized communities, low-income households, and workers and communities disadvantaged by the energy transition.
In the 21st century, U.S. global competitiveness will be closely intertwined with climate leadership. As Congress debates a variety of important questions about our nation’s infrastructure needs, there are myriad, sometimes competing, concerns and tradeoffs. Yet the urgency of accelerating the transition to a net-zero economy, while strengthening our resilience to future climate impacts, makes clear that investments in a resilient, net-zero future should be a priority for any infrastructure package. We stand ready to work with stakeholders on all sides and with our elected leaders to realize this historic opportunity to invest in our nation’s 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.