US business groups join forces to pledge action on climate change
London/Washington: Goldman Sachs and Bank of America have joined 11 other large US companies to make a series of climate change pledges that the White House says could lead to at least $140 billion (Dh514.2 billion) in new green investments.
Apple, Google and Berkshire Hathaway are among the groups backing an Obama administration initiative to highlight business support for efforts to seal a global climate deal at a UN meeting in December.
The move is part of the administrations ongoing push to deliver a lasting legacy on climate change in the final stretch of Barack Obamas presidency.
Obama is hoping to capitalise on the momentum he has created in recent months to bolster his case that the US must continue to take decisive action to combat global warming, even as the issue remains politically divisive at home.
More than 1.6 gigawatts of renewable energy generating capacity would be built if the 13 US companies climate promises were met, the White House said, enough to power nearly one million homes.
*Berkshire Hathaway plans to invest up to $15 billion more in renewable energy, while Alcoa, the aluminium giant, will pledge to halve its US greenhouse gas emissions within 10 years, compared with their 2005 levels.
Walmart, Microsoft, PepsiCo and UPS are also taking part in the initiative, which the White House said would be followed up with another round of corporate pledges later in the year."
http://gulfnews.com/business/economy/us-business-groups-join-forces-to-pledge-action-on-climate-change-1.1557322