Biden’s business allies help the White House convince the private sector in promoting climate change

Business leader Joe Biden’s allies have helped the White House try to persuade the private sector to support the government’s climate change agenda.

Some business leaders working with the White House told CNBC that their efforts were very different from what they saw during the Trump administration.

For example, executives say they don’t have to worry about tweets from the president when trying to push for new climate policies. Former President Donald Trump was known for targeting companies that seemed to oppose him on important issues.

Hugh Welsh, president of DSM North America, a member of the group, said: CEO Climate Dialogue told CNBC on Monday.

Unlike Trump, Biden proposed an aggressive climate change policy. Trump removed the United States from the Paris Agreement in 2017 and lifted Obama-era regulations on methane gas, among other actions that could be harmful to the environment. Biden returned the United States to the Paris Agreement on the day of his inauguration.

Biden also makes climate change efforts an important part of his $ 2 trillion infrastructure program. Biden’s proposal is driving a $ 174 billion investment in the electric vehicle market. Making the country zero carbon emissions by 2050 is all part of the president’s goal.

Billionaire Tom Steyer, who ran for president at the Democratic Primary, is one of several business leaders who have been actively involved with the White House and administrative leaders on climate change proposals.

Steyer discusses with Treasury Secretary Janet Yellen and White House climate adviser Gina McCarthy the need to work with the private sector on what could be one of the president’s most costly initiatives. ..

Steyer has spent millions of dollars investing in climate change initiatives to defeat Trump. According to Forbes, his net worth is $ 1.4 billion.

He was also a speaker at Morgan Stanley’s Annual Climate Conference, the person said. Steyer told executives and investors at the meeting that fossil fuel companies should not be invested as a way to combat climate change.

This person refused to be named to discuss private matters. The representative of Morgan Stanley did not respond to the request for comment. The White House did not respond to requests for comment prior to publication.

The US Chamber of Commerce and CEO Climate Dialogue are also working on the White House on climate change initiatives. The Chamber of Commerce opposes Biden’s plan to raise corporate taxes, but supports a review of the infrastructure.

CEO Climate Dialogue has about 20 members, including companies in Wall Street and the energy sector. The organization’s goal is to promote private sector utilization and promote a more market-based approach to ensuring net zero emissions by 2050.

Climate Dialogue CEO Welsh told CNBC that the group is in contact with Biden White House to improve relationships with corporate leaders.

“The group has been involved with Gina McCarthy and a few others over the last four years to rebuild the relationship with the White House,” Wales said.

Marty Durbin, chairman of the Chamber of Commerce’s Global Energy Institute, told CNBC that the group was in contact with McCarthy and Energy Secretary Jennifer Granholm.

Mr Durbin said the chamber is trying to encourage Granholm and Congressmen to fully fund climate-based R & D projects. The group is also encouraging the new administration to work with the private sector on green policy proposals.

“We need to understand how the private sector can be in a position to fund, deploy and commercialize these technologies. That’s at the end of the day. It’s a way to see emission reductions, “Durbin said.

Members of a funding group called Clean Energy for Biden also act as a bridge to the private sector. Dan Reicher, co-chair of the organization, told CNBC that he helped outline spending proposals to increase energy output from the country’s dams.

The document, sent to the White House and approved by nearly 12 organizations and industry groups, states that only 2,500 of the approximately 90,000 dams in the United States are generating electricity.

“If fully enacted, this $ 63.07 billion spending proposal over a decade will create high-income jobs for about 500,000 people, restore more than 20,000 miles of rivers and increase climate resilience. The proposal states, “We will secure more than 80 gigawatts of existing renewable hydropower and more than 23 gigawatts. Power storage.”

Biden also wants to order the establishment of a committee to coordinate dam improvements and regulatory issues.

Reicher said the summary was sent to two Biden climate policy advisers, Phil Judith and David Hayes, and especially to the House of Representatives.

The Clean Energy for Biden Group has evolved into 501 (c) (3) and 501 (c) (4) nonprofits, both called Clean Energy for America, Reicher added.

While supporting Biden’s climate agenda, the Clean Energy for America website “candidates at the federal, state and local levels through financing, mobilizing a clean energy workforce and acting as an early resource. To support. “

Biden’s business allies help the White House convince the private sector in promoting climate change

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