Business Shifts From Resistance to Action on Climate

When Congress last pushed for comprehensive climate legislation a decade ago, much of corporate America was either neutral or hostile.

In a sign of how much corporate attitudes have changed, the Business Roundtable, one of the country’s most prominent business groups, is throwing its support behind broad-based measures to slash greenhouse gas emissions. In a statement of principles to be released Wednesday, the Business Roundtable said it “supports a goal of reducing net U.S. GHG emissions by at least 80% from 2005 levels by 2050.” To achieve that, it endorses putting a price on carbon.

The content of the principles doesn’t break new ground—many big companies long ago embraced equally or more aggressive goals. The U.S. targeted reducing emissions 80% by 2050 when it joined the international Paris climate accord in 2016. Rather, the significance of the statement is that it shows how business is shifting from a source of resistance to a force for action on climate. The Business Roundtable statement represents the consensus of more than 200 members spanning every sector of the economy, from retail, finance and technology to health care, manufacturing and even oil and gas.

When the group last put out principles on climate, in 2007, it didn’t endorse mandatory measures such as carbon prices because of internal disagreement and warned against policies with “unacceptable” economic costs.

greg_ip Of course it will shift. It’s not science-based or moral-based. It sees a buck to be made just like all the others with their snouts in the trough. It doesn’t mean it’s the right thing to do or that CO2 is a problem, which of course it isn’t.

greg_ip A Clean Environment is making good Business sense.

greg_ip As we have experienced with Mr Trump, business must be regulated, to protect our environment and our economy, which includes our families' well being.

greg_ip Quite the lag time as business caught up with reality, but in the end, it always does. It can’t afford not to.

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