13 American megabusinesses just killed the argument that tackling climate change will hurt the economy

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If there was any compelling argument for not doing anything to prevent climate change—and, ultimately there isn’t—it’s that doing so would hurt the economy.

Marco Rubio, for instance, has said President Obama’s climate initiatives will “destroy our economy,” and Bobby Jindal warned in 2012 that energy prices would shoot higher if we abandoned fossil fuels.

But 13 U.S. companies, representing a market cap of at least $2.5 trillion and $1.3 trillion in 2014 revenues, just undermined the argument that addressing climate change would be bad for business.

They are the first signatories to what the White House is calling the American Business Act on Climate Pledge.

Together, they say they will put up at least $140 billion-worth of low-carbon investment over the next decade, and add 1,600 megawatts-worth of renewable energy capacity.

Some of the companies are also pledging to cut emissions by as much as 50 percent, and purchase 100 percent renewable energy.


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