Energy
Oil & Gas, Banks, Coal, Industrial and Power Companies That Want the US to Stay in Paris Climate Accord
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With reports that President Donald Trump is leaning toward pulling the United States out of the Paris climate accord, it has been unsurprising that many industries and leaders have come out urging the president not to withdraw from the agreement. It was a given and was unsurprising that the technology sector giants would want to remain within the Paris climate accord.
What has been surprising is how many CEOs you might have guessed would want out of the accord who have publicly urged President Trump not to withdraw the United States from the agreement. These are CEOs and leaders in oil and gas, power generation and utilities, chemicals, coal and the large banks that finance them.
As far as 2015 global pact is concerned, it is made up of nearly 200 nations seeking to limit global warming or climate change by lowering CO2 emissions and other fossil fuel emissions. The United States under President Obama had committed to reducing such emissions by levels of 26% to 28% lower than in 2005 by the year 2025.
24/7 Wall St. has visited direct sources and corporate letters, other aggregations from the likes of Reuters, CNN and MediaMatters to compile a list of the companies that have publicly voiced a request to remain in the Paris climate accord.
These are the names of companies in the oil and gas industry, the power generation industry, banks and finance companies that finance oil and gas and renewable energy projects, and other industrial companies that you might have guessed would want out of the deal but are requesting to stay in the Paris climate accord.
- Bank of America Corp. (NYSE: BAC) — financial
- Berkshire Hathaway (NYSE: BRK-A) — invests in oil and gas, transportation of oil, insures businesses overlapping with oil and infrastructure, and owns regulated utilities
- BP PLC (NYSE: BP) — oil and gas
- Chevron (NYSE: CVX) — oil and gas
- Citigroup, Inc. (NYSE: C) — finances oil and gas, fossil fuel and renewables
- Peak Energy — U.S. coal miner
- ConocoPhillips (NYSE: COP) — oil and gas
- Dow Chemical Co. (NYSE: DOW) — chemicals and materials
- E.I. du Pont de Nemours and Co. (NYSE: DD) — chemicals and materials
- General Electric Co. (NYSE: GE) — conglomerate that is deep in oil and gas (deeper pending on the Baker Hughes transaction), jet engines, but also in renewable energy equipment manufacturing
- General Motors Co. (NYSE: GM) — gasoline-burning cars
- Goldman Sachs Group Inc. (NYSE: GS) — finances oil and gas, fossil fuel and renewables
- JPMorgan Chase & Co. (NYSE: JPM) — finances oil and gas, fossil fuel and renewables
- Morgan Stanley (NYSE: MS) — finances oil and gas, fossil fuel and renewables
- NRG Energy Inc. (NYSE: NRG) — power transmission from natural gas, coal, nuclear, solar and wind
- Pacific Gas and Electric Co. (NYSE: PCG) — natural gas and electric utility in California
- Royal Dutch Shell PLC (NYSE: RDS-A) — oil and gas
- Wells Fargo & Co. (NYSE: WFC) — finances oil and gas, fossil fuel and renewables
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