U.S. Businesses Praise Today’s Announcement by Secretary Clinton, Following on Heels of Their Call on President Obama to Achieve a Global Climate Deal
Leading U.S. businesses praised U.S. Secretary of State Hillary Clinton’s announcement today that “the United States is prepared to work with other countries toward a goal of jointly mobilizing $100 billion a year by 2020 to address the climate change needs of developing countries.”
Her announcement comes two days after 30 leading U.S. businesses, including Nike, The North Face, Microsoft, Dow Chemical, Duke Energy, Seventh Generation, GroSolar, Timberland and others, sent a letter to President Obama urging him to secure a comprehensive climate agreement with strong greenhouse gas reduction targets and “strong finance provisions, with a substantial commitment of new long-term finance from developed nations, including the United States.” The letter also underscored that “such provisions also should consist of a structure for the long term and should leverage private sector investments.”
Many of the companies signing the letter are part of a business coalition, Business for Innovative Climate and Energy Policy (BICEP).
"Building a real solution to climate change globally requires exactly the kind of long term, sustained investment of resources outlined in Secretary Clinton’s remarks," said Timberland Co. CEO Jeffrey Swartz, whose NH-based company is a BICEP member. "As for-profit executives competing in an interconnected world, BICEP members are proud of this kind of leadership. Now, get the global deal done, the world is watching."
"We applaud Secretary Clinton's decision to support long-term financing for the climate change needs of developing countries," said Letitia Webster, director of corporate sustainability at The North Face, a global outdoor apparel company based in California. "We know many thousands of people in these countries die every year due to the impacts of climate change, and thus these are people who need this financing the most. This is an important step forward for the U.S. to demonstrate a tangible commitment to meaningful climate change policy."
“U.S. contributions to an international financing package means opportunities for US jobs and manufacturing in clean energy sectors as we assist developing nations alleviate energy poverty, and increase the quality of life for millions of people," added Lisa Jacobson, president of the Business Council for Sustainable Energy, whose organization and some of its member companies signed the letter. "US financial assistance for adaptation and mitigation helps open new markets and opportunities to expand US manufacturing and exports in clean energy sectors, including renewable energy and energy efficiency."