Apple, Microsoft, Google and Other US Firms to Commit $140bn to Address Climate Change

The White House is happy to announce that America’s carbon emissions decreased from 25 to 27 percent before 2025.

Since there has been launched American Business Act on Climate Pledge, the biggest 13 companies signed up to the country’s decision regarding the climate change.

As it was mentioned before, among the supporters there were observed Bank of America, Apple, Goldman Sachs and Berkshire Hathaway. All these companies along with the other 9 giants agreed to give $140 billion as a low carbon investment and provide efficiency gains where possible.

It was said in the statement of White House: “We understand that any delay in the climate change issue will cost us a lot in both human and economic terms, and accelerating the transition to a so-called low carbon economy will be absolutely beneficial for public health, sustainable economic growth, resilience to natural disasters as well as for global environmental health.” There was also noted that hundreds of local governments, private companies and other foundations made a big step forward for increasing energy efficiency, improving low-carbon investing and making solar energy more accessible for Americans with low income.

America has confirmed the emissions reduction from 25 to 27 percent before 2025, going by 2005 levels. That is the emissions pledge and national climate action plan of the country which has been submitted this year. Among the latest speeches there was an announcement regarding the private sector’s commitment to this end, and it also raises some hopes that others will follow suit, and other companies are also expected to become a part of the new American Business Act on Climate Change this autumn.

Besides the announced $140bn used as a low-carbon investment, the biggest companies have also agreed to adjust 1,600MW of extra capacity. At the same time, there were cut emissions as much as 50%, the intensity of water as much as 15% and almost zero for deforestation in the supply chains.

Highlights:

Bank of America

• Get a larger array of capital to clean energy investments
• Enlarge environmental business initiative from $50bn to $130bn by 2025

Google

• The aim is to get 30% decrease of potable water use by Bay area headquarters in 2015
• Commitment to powering operations with 100 percent renewable energy and triple purchases of renewable energy by 2025

Apple

• Has already proved to run all of the US operations in the renewable energy
• Deliver about 280MW of clear power generation by the end of 2016

Berkshire Hathaway Energy

• Retire more than seventy-five percent of coal-fuelled generating capacity in Nevada by 2019
• Think of adding more than $15bn in investment in renewable energy generation through 2014 by investing another $15bn

Goldman Sachs

• Make it possible to invest $40bn in clean energy worldwide within the following year and put a bigger target for 2025.
• Try to use a completely renewable power to fit the global electricity needs by 2025.