We Mean Business Response to U.S. Supreme Court Stay of Clean Power Plan

The We Mean Business coalition regrets the U.S. Supreme Court's decision to temporarily stay the Clean Power Plan while the litigation proceeds. We strongly believe that the Clean Power Plan is on solid legal ground and will prevail based on the merits.

Business and investors across the United States support the Clean Power Plan because is a core component of the U.S. climate commitment and would reduce carbon dioxide emissions from the power sector by an average of 32% from 2005 levels by 2030. The economic benefits of the plan are clear. It will drive innovation, create new and better job opportunities and help grow the economy and increase the competitiveness of American businesses in the global marketplace.

Forward-thinking companies are already seizing the economic benefits of climate action and are seeing an average IRR of 27% on their low carbon investments. 368 companies, [representing $7.8 trillion in total revenue] and 186 investors [representing $20.7 trillion in assets under management] have made over 900 bold commitments to climate action. These companies and investors are taking action because it makes good business sense to do so. They will continue to move forward - and the Clean Power Plan will help them accelerate their journey.

To that end, We Mean Business supports the many states that are continuing to diversify their energy portfolios and to prepare their Plans. We look forward to working with businesses, investors and communities around the country to secure the Clean Power Plan and build a thriving, clean American economy.

 

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We Mean Business