WASHINGTON (June 6, 2019) – Sen. Jeanne Shaheen (D-N.H.) introduced the Senate companion to H.R. 9 – the Climate Action Now Act – which passed the U.S. House in May and would reaffirm the U.S.’s commitment to the Paris Agreement.

The following is a statement from Bob Keefe, executive director of the national, nonpartisan business group E2 (Environmental Entrepreneurs), which took part the 2015 Paris climate summit where the agreement was reached:

“U.S. business leaders support this bill and the Paris Agreement because they see the enormous economic benefits of America running on clean energy and advanced transportation. They’ve seen nascent industries grow into economic powerhouses with 3.3 million Americans now working in renewables, energy efficiency, clean vehicles, and more.

“Staying in the Paris Agreement will keep America’s clean energy sector growing and keep us competitive with the rest of the world, while simultaneously addressing the growing economic costs of climate change we’re experiencing every day now.”

According to the United Nations Intergovernmental Panel on Climate Change, countries face economic damages of $54 trillion if the world gets 1.5 degrees Celsius warmer between now and 2040.

In the United States alone, climate change could cost our economy $500 billion per year by the end of the century, according to the latest National Climate Assessment, which is required by Congress and includes input from 13 Trump administration agencies.

For more information on why business leaders across the country support rejoining the Paris Climate Agreement, please contact Michael Timberlake at (202) 289-2407 or mtimberlake@e2.org.

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E2 (Environmental Entrepreneurs) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.