Ceres Commends U.S. Offer of Domestic Emissions Cuts Towards an International Climate Agreement
Higher End of U.S. Intended Nationally Determined (“INDC”) Target is Credible, Achievable and Will Stimulate Necessary Investment in Clean Technologies
March 31, 2015 /3BL Media/ - The nonprofit sustainability advocacy organization Ceres commends the Obama Administration’s announcement today of its Intended Nationally Determined Contribution including a 26-28 percent cut in U.S. emissions below 2005 baseline by 2025 for the upcoming UN climate conference in Paris this December.
Mindy Lubber, Ceres President and director of the Investor Network on Climate Risk says:
“The higher end of the 2025 target is credible, comprehensive and highly achievable. It sets an example of leadership for other countries to follow, and moves the world closer to holding temperature rise to 2-degrees to avoid catastrophic climate change. The U.S. target also sends a clear signal to the global investor community that the U.S. is committed to building a low carbon economy. It will stimulate business innovation and ingenuity and the necessary flow of capital from dirty fossil fuels to cleaner technologies. Continued leadership on the part of the U.S. is crucial to a strong international agreement to tackle climate change. Ceres looks forward to working with the Administration and with business leaders from across the country on strategies and policies that will help the U.S. to meet and exceed today’s stated target.”
Ceres is a nonprofit organization mobilizing business and investor leadership on climate change, water scarcity and other sustainability challenges. Ceres directs the Investor Network on Climate Risk (INCR), a network of institutional investors with collective assets totaling more than $13 trillion. Ceres also directs Business for Innovative Climate & Energy Policy (BICEP), an advocacy coalition of dozens of companies committed to working with policymakers to pass meaningful energy and climate legislation. For more information, visit www.ceres.org or follow on Twitter @CeresNews.