Cheers for President Obama’s Climate Plan
By Michael Schweibinz
During a June 25th speech at Georgetown University, President Obama introduced a new national climate action plan. The President painted a potentially bleak picture of the future we will leave to our children if action regarding climate change is not taken—and taken quickly.
Today, “Americans across the country are already paying the price of inaction, through insurance premiums, state and local taxes, the costs of rebuilding, and disaster relief,” the President said. “So the question is not whether we need to act—it’s can we afford not to?”
The plan offers policies and guidelines that will likely bolster our economy for the long-term. By reducing carbon pollution, while leading a global fight against climate change, the President’s plan has been endorsed by progressive businesses around the world. Business support includes the rank and file members of BICEP (Business for Innovative Climate & Energy Policy), an advocacy coalition of businesses committed to climate legislation that will enable a rapid transition to a low-carbon economy that will create new jobs and stimulate economic growth.
According to Anne Kelly, director BICEP, businesses across the country will welcome “less pollution from power plants, stronger more resilient towns and cities.” BICEP member companies believe “the President’s plan will set the nation on the right course for economic growth.” The plan has been widely supported by the signatories of the Climate Declaration. These businesses are clamoring for action so they were very pleased to see the Paresident heed their call to action.
For investors, the President’s plan will promote responsible investment in companies of the future.. Companies that do not consider the health of the planet may be at a severe disadvantage in the years ahead, as compared to those who have a sustainable business plan in place.
Here’s a supporting statement from Trillium Asset Management: “Climate change is the defining investment issue of our generation. The implementation of policies that limit carbon pollution should help unleash investment in clean energy and low-carbon technologies, which is an important step toward a truly sustainable economy.”
And Domini Social Investments LLC believes that “climate change is the greatest systemic risk society has ever faced. It is an environmental issue, a human rights issue, and an economic issue. As investors, we welcome strong executive action to limit greenhouse gas emissions and provide the right incentives for a rapid transition toward clean, renewable energy. The window of opportunity is rapidly closing to avoid the worst effects of global warming. We cannot afford to miss it.”
First Affirmative and, we believe, the vast majority of our clients agree. President Obama’s plan is an important step in the right direction. Now the question is whether society as a whole can act quickly enough to sidestep the most harmful effects of climate change and leave us with a planet that is beyond fixing.
Here’s what some other investors have to say about the President’s climate plan: http://www.ceres.org/press/press-releases/wide-ranging-businesses-support-president-obama2019s-climate-plan
Mention of specific companies or securities should not be considered a recommendation to buy or sell that security. Past performance is no guarantee of future results.
Posted: July 29, 2013