Northampton, MA --News Direct-- Ceres
August 12, 2022 /3BL Media/ - Ceres Director of Federal Policy Zach Friedman issued the following statement after the U.S. House of Representatives passed the Inflation Reduction Act of 2022, sending the groundbreaking package featuring more than $370 billion in climate, energy, and environmental justice investments to President Biden's desk to be signed into law:
More than 2,900 companies with over $5.1 trillion in annual revenue and more than 400 million global employees have participated in corporate America's year-long push for federal legislation to invest in clean energy, clean transportation, advanced manufacturing, domestic supply chains, climate resilience, environmental justice, and resilient agriculture. These efforts have included:
A letter signed last December by 437 companies, investors, trade groups, and employers calling on the U.S. Senate to pass a package of climate investments that were previously passed by the House of Representatives;
February meetings with dozens of senior leaders from influential companies and key Congressional offices to urge swift passage of a federal reconciliation bill that includes the historic climate, clean energy, and environmental justice investments;
Participation by Siemens USA CEO Barbara Humpton in a March Punchbowl News event highlighting the substantial corporate advocacy for robust climate policy:
A letter from nearly 50 large companies, each generating more than $200 million in annual revenue, calling for the climate package to advance as Congress returned to session in April;
Meetings between more than 100 major companies and lawmakers of both parties in May, as part of LEAD on Climate 2022, pushing for Congressional climate action;
A June letter from more than 1,000 companies of all sizes, representing every state in the country and industry in the economy, pressing the economic case for these investments;
A letter from seven CEOs at some of the nation's largest companies, injecting their personal calls for climate provisions in a reconciliation deal at a critical point in the Senate negotiations;
A business roundtable with President Biden on Aug. 4 focused on the IRA, that featured leaders from Ameren, Carrier, Cummins, General Motors, and Kaiser Permanente;
Individual statements from many large companies and trade associations in support of these climate provisions over the last year, including a surge of support for the IRA after Sens. Schumer and Manchin announced the deal in late July.
A letter released days ahead of the Senate vote signed by dozens of large companies, urging approval of the Inflation Reduction Act.
About CeresCeres 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 Contact: Helen Booth-Tobin
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