Now more than ever, there is a pressing need to safeguard against environmental forces potentially disruptive to our economy. If United States President-elect Donald Trump fails to recognize these imminent impacts, the environmental consequences could be catastrophic, and the United States would be missing out on a vital opportunity to create jobs and ensure competitiveness.
Friends Fiduciary joined with over 400 investors and companies in calling for “continued US participation in the Paris Agreement”, “investment in the low-carbon economy at home and abroad”, and support for “continuation of low-carbon policies to allow the US to meet or exceed our promised national commitment and to increase our nation’s future ambition.” In addition to curbing climate change, continuing participation in the Agreement would ensure that the United States remains competitive in a global economy that is increasingly turning to renewable sources of energy. Refusal by the United States to comply with its commitments could lead other countries to renege on their commitments as well.
Businesses already recognize that this moment presents incredible risks as well as incredible opportunities. By signing the letter, companies such as Unilever, Monsanto, Hilton, Nike, Apple and Kellogg reaffirmed their commitments to a low-carbon future and communicated business concerns about the potential impacts of global warming. However, relying on corporations to individually change their policies is not enough. Commitment by both the private and public sectors is imperative to ensure that the US and the world avoid the catastrophic impacts of climate change. Friends Fiduciary also believes there is significant opportunity to build a productive and sustainable economy by aggressively and proactively transitioning to a just, lower carbon future.
Friends Fiduciary has asked President-elect Donald Trump at this crucial moment in history to consider the long-term health of the American economy, and the voices of many in the American business community, as he considers the US commitment to the Paris Agreement.