CEOs of Major U.S. Companies Press for Ambitious Federal Climate Package as Key Senators Negotiate

Chief executives at seven large companies today called on congressional leaders to finalize and promptly pass a critical climate and clean energy package that will reduce energy costs for companies and families, secure the U.S. energy future, and boost the nation’s economic competitiveness by strengthening advanced manufacturing capabilities and stabilizing supply chains.

By signing the letter to Senate Majority Leader Chuck Schumer and Speaker of the House Nancy Pelosi, some of America’s top business leaders personally joined the substantial corporate advocacy for Congress to pass ambitious federal climate and clean energy investments. The CEOs who signed the letter are: Shane Grant, Danone North America; Chris M. Crane, Exelon; Chip Bergh, Levi Strauss & Co.; Bracken Darrell, Logitech; Patricia K. Poppe, PG&E; Ralph Izzo, PSEG; and Steve Rendle, VF Corporation.

“As budget reconciliation negotiations continue in the Senate, we urge you to swiftly come to agreement on and pass an ambitious package of climate, clean energy, and environmental justice provisions that will increase the reliability and security of American energy while advancing America’s global clean energy leadership,” the executives wrote in the letter.

Climate and clean energy investments anchor a package under negotiation in the U.S. Senate that would also address inflation, another goal the CEOs lauded in the letter: “A reconciliation package that includes these investments and reduces the deficit will help us combat inflation and bend down the cost curve for consumers’ bottom lines right away.”

The CEOs also acknowledged that strong climate investments will require new funding sources and expressed their openness to exploring the best federal revenue options. “It’s easy to focus on the cost of climate action, but the increasing severity and frequency of unprecedented and costly extreme weather events make it crystal clear that the cost of inaction is far higher,” they wrote.

"Bold climate leadership is needed across the public and private sector to tackle the accelerating climate crisis. While I am proud of the progress our company has made on climate action, it is going to take ambitious government action to reduce carbon emissions in the U.S. and across the globe,” said Logitech President and Chief Executive Officer Bracken Darrell. “Right now, the U.S. has an opportunity to lead the world, both in confronting the climate crisis by setting smart climate policies and in building out the innovative industries and clean energy economy this existential challenge will require. We urge Congressional leaders to take action before it is too late."

The letter specifically calls for lawmakers to approve:

• Clean energy, sustainable transportation, and energy efficiency incentives and investments to help the U.S. lower its emissions while achieving better price stability and energy security.
• Investments to expand domestic supply chains and bolster American industrial capacity to develop and deploy key innovative technologies to help make the U.S. a global leader, create high-paying jobs in rural, disadvantaged, and frontline energy communities, increase exports, and strengthen our security and resilience in the face of global disruption and conflict.
• Programs to improve resilience to help reduce damage from extreme weather and natural disasters and address environmental disparities in disadvantaged communities.
• Incentives for climate-smart agriculture and forestry to help safeguard food production and boost rural development.

Businesses and investors consider ambitious climate legislation crucial to generating economic growth and competitiveness by growing new industries, protecting their assets from the threats of the climate crisis, and stabilizing volatile energy markets, supply chains, and costs. While many business leaders — including the signatories to this letter — supported the clean energy, clean transportation, and climate resilience funding in the Infrastructure Investments and Jobs Act of 2021, they have also argued that achieving the nation’s climate and economic goals requires further investments.

Many analysts, experts, and advocates believe a package must be agreed upon in the Senate this summer in order to pass before the end of the current Congress.

“Some of the top business leaders in the U.S. are today championing strong federal climate legislation, because they know it is critical to advancing our economic goals, unleashing innovation across our economy, lowering costs for companies and families, and preventing the climate risks that loom over our nation’s businesses and financial systems,” said Anne Kelly, vice president of government relations at Ceres, the sustainability advocacy organization that organized the letter. “For months, companies and investors have advocated for this legislation. Today, we are excited to see leading executives personally champion the ambitious investments we need — and what it will take to achieve them.”

The new letter from these companies’ corner offices is just the latest example of a broad push across corporate America to support passage of federal climate investments. In June, more than 1,000 businesses of all sizes working in all industries, and located in all 50 states called on Congress to act. In May, representatives of more than 100 companies met with lawmakers on both sides of the political aisle at the fourth annual LEAD on Climate advocacy event impressing the need for robust climate policy. And as Senate negotiations began taking shape in April, nearly 50 large companies — each generating at least $200 million in annual revenue — said Congress should build upon the Infrastructure Investments and Jobs Act of 2021 by passing legislation to accelerate utility-scale clean energy development, incentivize electric vehicle adoption, and support U.S. supply chains and advanced manufacturing.

About Ceres
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.

Media Cause: Helen Booth-Tobin, booth-tobin@ceres.org, 617-247-0700 ext. 214