Billion dollar disasters, according to National Oceanic and Atmospheric Administration NOAA.gov
Hurricane Ida and the forest fires in Californie wiped entire communities off the map. Tens of thousands of people in Louisiana are still without electricity, two " weeks later , and more hurricanes are on their way.
Whenever a disaster like this strikes, the entire economy of the region shuts down Homes are lost or damaged, electricity goes out for days or weeks, streets are blocked, people cannot get to work or work from home, and shops and businesses are closed.
The United States has experienced 8 "weather / climate disasters with losses exceeding $ 1 billion each" in 2021 (as of July 9, 2021) which "resulted in the deaths of 331 people and resulted in significant economic effects on affected areas, "according to the National Oceanic and Atmospheric Administration, or the NOAA . " The United States averaged 16.2 each year from 2016 to 2020
As a result of this disruption in the economy, companies are carefully monitoring the passage of President Joe Biden's massive infrastructure bills through Congress. But are business leaders really supporting these bills, especially since the bills require many of them to pay higher taxes?
Anne Kelly, Ceres, testifies before Congress Ceres.org
The answer is apparently 'yes', but they're working behind the scenes to help craft it, according to Anne Kelly, vice president of government relations at Ceres, the influential nonprofit dedicated to stimulating the market. . policies based in the service of the planet.the plans.
Businesses call for bold action "to tackle the climate crisis at the pace and scale it demands
It boils down to the fact that businesses depend on functioning infrastructure - from roads and bridges to railways to electricity and reliable internet service requiring broadband. - and these are all devastated by these extreme weather events. With the workforce now working more remotely, employees are scattered across the country in rural areas as well as in urban and suburban areas. Therefore, access is essential for operations to run and employees to be able to work.
This is why 408 companies and investors have signed a open letter to President Biden the appelant to set ambitious climate goals and standards: “As business leaders, we care deeply about the future of the United States and the health of its people and economy. Collectively, our businesses employ more than 7 million American workers in all 50 states, representing over $ 4 trillion in annual revenues, and for those of us who are investors, we represent more than $ 1 trillion. dollars in assets under management. We join the majority of Americans in thanking you for bringing the United States back into the Paris Agreement and for making climate action a key pillar of your presidency. "
Open letter to President Biden of the 408 esses bus, April 13, 2021 wemeanbusinesscoalition.org
They called for bolder action "to tackle the climate crisis at pace and scale that it requires, "adding a specific request. We therefore call on you to adopt the ambitious and achievable goal of reducing GHG emissions by at least 50% from the levels of2005 by 2030.… New investment in clean energy, energy efficiency and clean transportation can build a strong, fairer and more inclusive US economy.
It comes down to risk
The business and investor community is focused on reducing risk, any risk to their success, and the climate risk is what they believe the government needs to deal with. They also believe it will help spur much-needed economic growth as the country emerges from the pandemic.
“Regarding the Electric "Ladies . She also pointed out that the SEC is asking for howpublic areas "on what the SEC should do with regard to the 'mandatory weather release'. respondents have 90 days to submit their ideas and feedback on various voluntary environmental-social-governance (esg) reporting systems currently in use. "So, you're going to see a cascade of comments from the business community on: what do we really need? ... how do we get useful information from comparable investors so that they can make decisions need to make?" "Kelly explained.
Leading companies like Apple have spoken publicly for the ARPA-E
Energy Secretary Jennifer Granholm and Vice President of 'Apple Lisa Jackson at the top of ARPA-E innovation 2021 ... (virtual)
Lisa Jackson,Apple vice president of environment, policy and social initiatives and former EPA administrator, said on support " from Apple at the ARPA-E Innovation Summit earlier this year: "We support the adoption of 'a clean energy standard that we believe will result in large amounts of renewable energy production, and do so in a way that shows people where they need to go and what they need to get there . (ARPA-E is the advanced research program agency, energy, innovation arm of the Ministry of Energy.)
Economic growth through climate action
"The general theme is that the road to economic recovery is through climate action", this is how Kelly summed up the infrastructure plans and why the business and investor community supports them. "And so, it 's a plyears of infrastructure and jobs, but there is no doubt that it is very intentionally addressing the climate crisis in a number of ways.
She denounced the "range of credits from tax for renewables which are very popular and successful and will certainly gain the support of the business community "as well as " electrification of our transportation system ", which she has all done the two. are "job-creating things.
Kelly also underscored the focus on fairness to these infrastructure bills. “President Biden has made it clear that 40% of the profits will go to underserved and disadvantaged frontline communities,” she said. Numerous studies, including one in 2020 at Princeton, prove that "communities of color are disproportionately victims of environmental risks and are manyup more likely to live in heavily polluted areas. "
Now we'll see if these bills become law.