A consortium of more than 80 American companies including Walmart, Alcoa and Coca-Cola have agreed to a White House-led plan to combat climate change, the Obama administration said Monday, as the president ramps up his climate plan.
The companies have signed a pledge to support the landmark Paris climate negotiations set for the end of this year, reduce their emissions and increase low-carbon investments, according to a White House announcement.
“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,” the companies said as part of the pledge.
The 81 companies, which also include American Express, Dell, GE, General Mills, McDonald’s, Nike and other household names, employ over 9 million people and have a market capitalization of over $5 trillion.
Each company is committing to specific goals, like reducing emissions up to 50%, reducing water usage by as much as 80%, purchasing 100% renewable energy and pursuing zero net deforestation in supply chains, the White House said.
The White House has set a goal of cutting nearly 6 billion tons of carbon pollution through 2030, including a reduction of emissions from the energy sector of 32% by 2030.
President Obama has said he views action against global warming as a central part of his legacy.