Companies with $350b in Annual Revenues Urge Gov. McAuliffe to Strongly Support Clean Power Plan


    For anyone who thinks that the Clean Power Plan (coming out Monday) specifically, and transitioning from dirty to clean energy generally, are “bad for business,” they might first want to talk to the 365 (!) companies – with 340,000 U.S. employees and $350 BILLION in annual revenue, who signed letters “to more than two-dozen governors across the United States voicing support for the EPA Clean Power Plan for existing power plants and encouraging the states’ ‘timely finalization’ of state implementation plans to meet the new standards.”

    Those two-dozen governors include a letter to Virginia Gov. Terry McAuliffe by 24 companies and investors with ” a significant presence in Virginia” – including Mars, Nestle, VF Corporation, Wespath Investment Management, Calvert Investments, etc. Highlights from the letter (see the “flip” for screen shots) include:

    *The companies and investors “strongly support the implementation of the Environmental Protection Agency’s Carbon Pollution Standards for existing power plants,” as they are “critical for moving our country toward a clean energy economy,” with a “flexible approach [that] provides an exciting opportunity for states to customize their own energy portfolio, expand clean energy solutions, attract new industries to the state, and create thousands of jobs.”

    *They emphasize that their support for clean energy is “firmly grounded in economic reality,” which is why “60 percent of Fortune100 companies have set their own clean energy targets and have saved more than $1 billion a year in the process.”

    *They “are seeking long-term policies that provide businesses the certainty needed to transition to a clean energy economy.”

    *They correctly note that switching to energy efficiency and renewable energy “will allow you to mitigate the risks of climate change and the volatility of fossil fuel prices,” while combatting global warming that, among other problems, puts “trillions of dollars of institutional investors’ assets at risk.”

    *They also explain that “emissions reductions can be achieved without long-term economic harm or damage to the reliability of our electricity system,” but that clearly measures should be put in place to “ensure a just transition for impacted workers and communities during this shift toward a low carbon economy” (e.g., coal workers here in Virginia).

    The bottom line: these companies and investors “encourage your timely finalization of Virginia’s implementation plan and offer the support of the business community in [Gov. McAuliffe’s] pursuit of cost-effective clean energy solutions.” Let’s make it happen ASAP, as there’s truly no time to waste.

    P.S. Great job by Ceres pulling this together!

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