Major US businesses call on Biden to pledge 50% cut in emissions

London, (Quantum Commodity Intelligence) - A conglomerate of more than 300 businesses have called upon the US government to pledge to cut its emissions 50% under 2005 levels by 2030 ahead of bilateral talks between China and the US.

The so-called "We Mean Business Coalition" comprises companies as diverse as Apple, IKEA and IHS Markit across a range of sectors, including technology, financial services and cement and steel.

In an open letter, the coalition, which represents $3 trillion in annual revenue and employs 6 million workers, urged the government to take a leadership role while pledging to scale up their own emission cuts accordingly.

"The U.S. must adopt an emissions reduction target that will place the country on a credible pathway to reach net-zero emissions by 2050. We, therefore, call on you to adopt the ambitious and attainable target of cutting GHG emissions by at least 50% below 2005 levels by 2030," the letter said.

The US will host a virtual summit next week ahead of delayed climate talks to be held in Glasgow, UK at the end of the year.

The US, under President Biden, has rejoined the Paris Climate Agreement – a part binding, part voluntary pact to cut emissions that more than 190 nations signed in 2015, after it pulled out of the pact last year.

The US is expected to unveil a new "national determined contribution" next week.

Its previous pledge made at Paris was to cut net greenhouse gas emissions up to 28% below 2005 levels by 2025.

The pledge comes at a sensitive time for the US government as President Biden's decision to scrap the Keystone pipeline to take crude from Canada to Texas is being challenged legally by Texas and 18 other states.