Biden’s climate ambitions, including a sweeping infrastructure package that invests heavily in clean energy technologies, would be paid for largely by raising corporate tax rates, a move that could trigger objections from some of the very corporations who signed the letter.
The president has also promised to adopt new regulations for fossil fuel producers, automobiles and electric utilities. Signatories of the letter include utilities like PGE Corp. and Exelon but no notable oil and gas companies.
“Many of us have set or are setting emissions reduction goals in line with climate science since the establishment of the Paris agreement,” the letter said. “The private sector has purchased renewable energy at record rates and along with countless cities across the country, many have committed themselves to a net zero-emissions future.”
Nearly every country is part of the Paris agreement, a landmark nonbinding accord among nearly 200 nations to reduce their planet-warming emissions. The U.S. is the world’s second-largest emitter of greenhouse gases.
Article source: https://www.cnbc.com/2021/04/13/executives-call-on-biden-to-cut-emissions-to-combat-climate-change-.html