Bioenergy companies urge Biden to set GHG reduction goal

By Erin Voegele | April 13, 2021

Drax Group plc, Enviva, and Vanguard Renewables are among 310 businesses and investors that have signed an open letter to President Biden urging his administration to reduce greenhouse gas (GHG) emission by at least 50 percent below 2005 levels by 2030.

“As business leaders, we care deeply about the future of the U.S. and the health of its people and economy,” the companies said in the letter. “Collectively, our businesses employ nearly 6 million American workers across all 50 states, representing over $3 trillion in annual revenue, and for those of us who are investors, we represent more than $1 trillion in assets under management. We join the majority of Americans in thanking you for re-entering the U.S into the Paris Agreement and for making climate action a vital pillar of your presidency. To restore the standing of the U.S. as a global leader, we need to address the climate crisis at the pace and scale it demands. Specifically, 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.”

The letter explains the 2030 GHG reduction target is necessary “to catalyze a zero-emissions future, spur a robust economic recovery, create millions of well-paying jobs, and allow the U.S. to ‘build back better’ from the pandemic.” The groups also stress the suggested GHG reduction target will guide the U.S. government’s approach to more sustainable and resilient infrastructure, zero-emissions vehicles and buildings, improved agricultural practices, and durable carbon removal. The commitment would also inspire other industrialized nation’s to set bold targets of their own, the companies said.

“Many of us have set or are setting emissions reduction goals in line with climate science since the establishment of the Paris Agreement,” they wrote. “The private sector has purchased renewable energy at record rates and along with countless cities across the country, many have committed themselves to a net zero-emissions future.

“If you raise the bar on our national ambition, we will raise our own ambition to move the U.S. forward on this journey,” they continued. “While an effective national climate strategy will require all of us, you alone can set the course by swiftly establishing a bold U.S. 2030 target.”

A full copy of the letter can be downloaded from the We Mean Business Coalition website