Apple, Microsoft, Google, US firms to commit $140bn to address climate change

[GennGreymane]

Apple, Microsoft, Google and other US firms to commit $140bn to address climate change
(title adjusted to fit)
http://www.ibtimes.co.uk/apple-micro...imate_invest_1

US corporate giants including Apple, Google, Microsoft, Berkshire Hathaway and Goldman Sachs are looking to invest at least $140bn (£90.2bn, €127.4bn) to shrink their carbon footprints, according to media reports.

Executives from 13 major US corporations are due to announce the investment at the White House on 27 July, in the presence of Secretary of State John Kerry and top administration officials.

Other companies on the list are Bank of America, General Motors, Cargill, Alcoa, Wal-Mart Stores, United Parcel Service, Coca-Cola and PepsiCo.

The development was first reported by the Wall Street Journal.

The committed funds will be utilised to cut emissions, provide financing to environmentally-focused companies, reduce water consumption, and produce 1,600 megawatts of new, renewable energy, which is enough to power nearly 1.3 million homes.

The announcement comes as part of the Obama administration's efforts to bolster private commitments to climate change, ahead of a summit in Paris later in 2015. The White House expects to announce a second round of similar pledges later from more companies, Bloomberg reported.

"As the world looks toward global climate negotiations in Paris this December, American leadership at all levels will be essential," the White House said in a fact sheet.

Later this week, the US Environmental Protection Agency is expected to announce final regulations that aim to reduce carbon emissions from American power plants by 30% over 2005 levels by 2030.

Power plants are the largest single source of carbon pollution in the US, accounting for about one third of all domestic greenhouse gas emissions. The Clean Power Plan will set standards for carbon pollution from power plants, just as we have set limits on power plant emissions of harmful elements.

[Deleted]

Maybe they should spent it on not owning sweatshops creating toxic fumes in third world countries?

[Acidbaron]

It's merely pledges so in otherwords companies join on board donate money and get a better PR image while they are not bound by anything to uphold actually doing what they are stating.

Would be better of to actually have entire regions enforce stricter laws on this, at this rate China is going to dwarf the west in their efforts to clean up.

[Independent voter]

33% of US greenhouse gasses come from coal. Electric coal plants need to be replaced with nuclear plants, that alone will markedly slow global warming. People are still afraid of nuclear for some reason, and the companies in the article won't mention nuclear because of bad press.

Then what to do about China?

[Acidbaron]

33% of US greenhouse gasses come from coal. Electric coal plants need to be replaced with nuclear plants, that alone will markedly slow global warming. People are still afraid of nuclear for some reason, and the companies in the article won't mention nuclear because of bad press.

Then what to do about China?

China invests quite a bit more than the west especially if we look individually, it's a big issue for them as the exhausts are harmful not just for nature but for their citizens, they are building large projects just outside cities to get people to move to greener areas and are investing heavily in green technology.

You would be surprised how far they have come already. Helps to not have too much political bickering things tend to get done.

[Shurkuris]

So 140 billion dollars in kickback money, they might as well said it was for "political donations" or "We pay the wise-guy's their weekly check so our house won't be burned down"

[Puremallace]

So 140 billion dollars in kickback money, they might as well said it was for "political donations" or "We pay the wise-guy's their weekly check so our house won't be burned down"

orrrr they actually give a fuck and realize most of my generation is going to be stuck with either shit decisions from boomers or plain laziness from GenY and X who have sat back and done nothing as Rome burned around them.

[DeathbyFrostBomb73]

33% of US greenhouse gasses come from coal. Electric coal plants need to be replaced with nuclear plants, that alone will markedly slow global warming. People are still afraid of nuclear for some reason, and the companies in the article won't mention nuclear because of bad press.

Then what to do about China?

Nuclear plants, no. Thorium plants, yes.

[Stonecloak]

But...Climate change is a hoax?????

[Puupi]

One thing to note here is the key word invest. They are not giving money away as charity. They are investing on future technologies where they want to hold a firm monopoly once carbon based energy is no longer available. Self interest is what they are interested in. Same reason why the biggest players on renewable energy markets are oil companies.

[PC2]

But...Climate change is a hoax?????

Most Americans believe in climate change. Some politicians not believing in it is largely due to the fact that "green" tech isn't a superior alternative just yet.

[Stonecloak]

One thing to note here is the key word invest. They are not giving money away as charity. They are investing on future technologies where they want to hold a firm monopoly once carbon based energy is no longer available. Self interest is what they are interested in. Same reason why the biggest players on renewable energy markets are oil companies.

Yeppers. I don't think it'll be as lucrative as fossil fuels though, but it had to be profitable for anything to happen anyway.

[Herecius]

A piddling sum of money considering the scale of the problem. Nothing more than pandering to the Western white middle class asshats.

Grrrr cynicism, grrrrr!

Apples has a net worth of ~$700 billion. Microsoft has a net worth of ~300 billion. Google has a net worth of around $300 billion. They're investing extremely sizeable fractions of their net worth into squelching their carbon footprint. Would you rather that they go bankrupt in trying to do so?

Hundred-billion-dollar companies flinging a few million at a charity could be called a pandering amount. Throwing hundreds of billions of dollars at the investment into a more serious issue goes a bit beyond 'pandering.'

[Stonecloak]

Most Americans believe in climate change. Some politicians not believing in it is largely due to the fact that "green" tech isn't a superior alternative just yet.

sarcasm translates horribly online. Sorry for even bothering.

[haxartus]

The situation is so fucked up that private companies have to step in to reduce climate change because governments can't agree on anything.

[Daelak]

Apple, Microsoft, Google and other US firms to commit $140bn to address climate change
(title adjusted to fit)
http://www.ibtimes.co.uk/apple-micro...imate_invest_1

Freaking liberal companies got hoodwinked by Al Gore. I'm glad conservative companies such as Slim Jim and Bushmaster are holding firm to their belief.

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So 140 billion dollars in kickback money, they might as well said it was for "political donations" or "We pay the wise-guy's their weekly check so our house won't be burned down"

Yeszsz, this post is definitive proof of the global conspiracy to tax us to death.

[Stonecloak]

The situation is so fucked up that private companies have to step in to reduce climate change because governments can't agree on anything.

Well, when they become filthy rich then the gov. will have its new overlord, or the same overlords just different product.

[Nightspear]

It's not like they are giving away that much money. They open up a new marked doing so, and will profit from it.

It's not that it won't help the enviroment, you are just naive, if you think it's purely to save the world.

[Vilendor]

That's strange, last time i checked 2/3 of the USA didn't believe in climate change, now it's suddenly a thing?

[Acidbaron]

That's strange, last time i checked 2/3 of the USA didn't believe in climate change, now it's suddenly a thing?

The intelligent part such as silicon valley does, the more rural areas don't than again they still believe in a lot of things that can be traced to the last century.