Climate action is a business priority. We need Congress to act now.
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Dear President Biden, Majority Leader Schumer, and Members of Congress:
In 2020, losses from hurricanes, wildfires, droughts, and other climate-fueled disasters cost our nation $95 billion. For our businesses these disasters create severe disruption to our supply chains, employee dislocation, manufacturing and distribution interruptions, and a host of other impacts. Our businesses are already severely impacted by climate change which will only get worse if action is not taken. The Office of Management and Budget’s own assessment finds that future damages will likely dwarf current losses and could cost the U.S. budget $2 trillion a year by the end of the century.
Accelerating the transition to affordable clean energy and addressing the threat of climate change will increase our national security and global competitiveness and help each of our businesses thrive. Investments in clean energy, energy efficiency, agricultural innovation, methane reduction, and clean transportation will significantly reduce emissions, create millions of jobs, cut costs for consumers, spur deflationary clean energy projects, strengthen energy security and supply chain resilience, and improve the health of communities. It will bring the stability our businesses require to thrive. The economic costs of inaction on climate change are clear, as are the economic opportunities that come with bold climate action.
As business leaders, employers, community members and parents, we join you in caring deeply about the future human and economic well-being of our great country. But it’s not enough to care. We implore you to act now.
We call on you to invest at the scale of the crisis and adopt critical climate solutions that will:
Meet the urgency and scale of the climate crisis with ambitious federal investments to accelerate the transition to affordable, secure, domestic clean energy.
Seize the economic opportunities to lead the world in clean energy manufacturing and deployment and create jobs, spur innovation, strengthen supply chains, and reduce costs and volatility for businesses and consumers.
Tackle inequity by targeting climate and clean energy investments in disadvantaged, rural, and frontline energy communities.
The science is irrefutable. The economics are undeniable. The scientists have warned that there is a narrow window to prevent the consequences of our changing climate from getting far worse and more costly. Many of us have undertaken our own activities to reduce our climate impact, but it is not enough fast enough. We cannot do it alone.
President Biden, Majority Leader Schumer, and Members of Congress, we ask you to invest in the economic well-being of our businesses and our nation, and the health of our communities. Get the job done now and pass ambitious climate legislation to put our country and our world on a path to solving the climate crisis. We are counting on you to act boldly.