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Statement from We Mean Business on US Administration Energy Independence Executive Order


March 29, 2017 ( Newswire) The We Mean Business coalition regrets the Executive Order from the White House weakening US climate policy and, in the process, undermining support for a clean energy agenda that is pro-growth, pro-business and pro-jobs.

Nigel Topping, CEO of the We Mean Business coalition released the following statement:

"This announcement undermines policies that stimulate economic competitiveness, job creation, infrastructure investment and public health.

"Many American companies have set ambitious energy efficiency and renewable energy targets. The Clean Power Plan (CPP) provides a platform for these companies to secure reliable and resilient sources of clean energy and in turn generates substantial economic and public health benefits.

"Just eighteen months ago the Federal Government estimated the net economic benefits of the CPP at US$26-45 billion, with consumers set to save US$155 billion from 2020 to 2030. In addition, the CPP provides regulatory support to the clean energy economy, which according to the Department of Energy's U.S. Energy and Employment Report, supports more than 3 million US jobs in 2016.

"The public health benefits are also significant. Research suggests the Clean Power Plan could prevent 3,600 premature deaths and over 300,000 missed work and school days by cutting pollutants that contribute to soot and smog.

"Withdrawing support for the Clean Power Plan and undermining the wider clean energy agenda puts this potential at risk, however two critical factors continue to suggest that the transition to a low carbon economy remains inevitable:

Clean power is the energy of choice for resilient and successful business.

"In 2015 when the Clean Power Plan was announced over 365 companies and investors showed their support stating that it incentivized renewable energy and enabled business to reconcile their duty to shareholders with care for community and planet.

"More recently, over 1000 companies and investors, with combined revenues of over US$1.2 trillion, signed the Business Backs Low Carbon USA statement calling for the US economy to be energy efficient and powered by low-carbon energy.

"These companies are part of a growing movement in the private sector that sees profits, job creation, competitiveness, innovation, and stewardship of the environment as a virtuous circle.

The political will to act remains resolute across the globe.

"The historic Paris Agreement on climate change agreed in December 2015 brought together 196 governments committed to deep decarbonization well before the end of this century. The Agreement provides business with the direction, confidence and certainty it needs to make long-term investments in innovation and infrastructure.

"American businesses know that profit and protecting the environment go together. Today we ask the US Government to reject a false choice between energy independence, job creation and action on climate change. It is time to hold firm on providing the clean energy economy of tomorrow through US climate policy at home and continued leadership through the Paris Agreement abroad."

About We Mean Business

We Mean Business is a coalition of organizations working with thousands of the world's most influential businesses and investors. These businesses recognize that the transition to a low carbon economy is the only way to secure sustainable economic growth and prosperity for all. To accelerate this transition, we have formed a common platform to amplify the business voice, catalyze bold climate action by all, and promote smart policy frameworks. investing ideas in oil and gas stocks

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