On Thursday, President Biden is expected to begin his historic international leaders’ summit on climate with a pledge to reduce US greenhouse gas emissions by at least 50 percent below 2005 levels by the end of the decade.
This bold but not very attainable goal is good for our environment.
It is also good for business and our economy.
Just ask the nearly 400 E2 members and supporters who signed up This recent E2 letter urges the president to cut emissions by at least half by 2030. These are business leaders, investors and entrepreneurs from every sector of the economy and every part of the country who believe in the power of innovation, understand global markets and are not afraid of international competition – as long as the US government does its part.
These include CFO and head of global services for international auto supplier Bosch Group in Michigan, as well as chief global markets strategist at petroleum giant BP, which is based in Chicago. He is a hotel and real estate investor in New England and a solar and wind entrepreneur in Pennsylvania and Colorado. Others include technology executives in Silicon Valley and investment fund managers in the mountains of Asheville, NC (you can). See all their names and companies here)
What these business leaders know is that by pledging to the world that we will cut our emissions in half, President Biden is also sending a clear market signal that encourages new investment and jobs in clean energy, clean vehicles and a clean economy. will promote. necessary to reach that goal. They know it also sends signals to the rest of the world that America is back in business when it comes to combating climate change and its cost that is costing our economy billions of dollars each year.
As E2 members and supporters wrote in our letter to the President:
“As innovators, entrepreneurs, investors, business owners and other professionals, we reject the idea that a reduction of greenhouse gases by at least 50% by 2030 is unattainable or harmful to business.
That’s because as long as we get the right direction and support from our nation’s leadership, we know firsthand the power of American innovation and the ability of American companies and workers to get the job done.”
It is not the only businessmen who believe that bold climate action is a win-win for business and our economy. More than 300 companies that collectively generate over $3 trillion in annual revenue also signed this letter Urged President Biden to cut emissions by at least 50 percent. Wal-Mart, Coca-Cola, Google and General Electric are among companies that added their names to the letter, which Ceres organized with the support of E2 and other business groups.
Cutting emissions in half could grow our economy by about $500 billion per year, According to an analysis by leading think tank Energy Innovation. Energy Innovation estimates that adding more clean energy and clean vehicles could add more than 3 million job-years to our economy by 2030.
We already have a strong foundation on which to build. E2 recently released Clean Jobs America 2021 Report shows that at the end of 2020, about 3 million Americans worked in clean energy in every state, regardless of geology, geography or politics. Despite being overall below pre-pandemic levels, clean energy jobs are growing faster than the rest of the economy – a growth of about 11 percent in the second half of last year, compared with about 9 percent for the rest of the economy. in comparison with. They pay about 25 percent better than the national average wage.
President Biden’s pledge to cut our emissions in half, combined with investments and policies that support clean energy and climate resilience outlined in his American Jobs plan, will create millions more jobs and opportunities for Americans. These are jobs we badly need in the wake of the COVID-19 economic slowdown, and jobs that will be especially welcome in low-income communities and communities of color.
This is what leadership looks like.
Now, along with businesses and President Biden, Congress also needs to take the lead.
Trade agreed: Biden’s plan to reduce GHG emissions will boost jobs, economic growth basically . Was published in e2org on the medium.
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