Thirteen large U.S. companies are pledging to invest more than $140 billion in climate change efforts as the White House launches the American Business Act on Climate pledge. The White House said that Alcoa (AA), Apple (AAPL), Bank of America (BAC), Berkshire Hathaway Energy (BRK.A), Cargill, Coca-Cola (KO), General Motors (GM), Goldman Sachs (GS), Google (GOOG), Microsoft (MSFT), PepsiCo (PEP), United Parcel Service (UPS) and Walmart (WMT) are signing the climate pledge today. In doing so, the White House said these companies are voicing support for a strong outcome in the Paris climate negotiations this December. It also said that each company is announcing new pledges to reduce their emissions, increase low-carbon investments and deploy more clean energy. These announcements total at least $140 billion in new low-carbon investment and more than 1,600 megawatts of new renewable energy. They also include company-specific goals to cut emissions as much as 50%, reduce water intensity as much as 15% and purchase 100% renewable energy. According to the White House, President Obama’s Climate Action Plan will ultimately cut nearly 6 billion tons of carbon pollution through 2030, which is equivalent to taking all cars in the U.S. off the road for more than four years.
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