4 major companies joined the legal battle in the favour of President Barrack Obama administration’s signature climate change principles that would limit emissions from the coal-fired power plants.
Mars – the Candy Company, Adobe – the Software maker, IKEA – the furniture giant, and Blue Cross Blue Shield – the insurance behemoth filed an amicus brief in the United States’ Court of Appeals in Washington in the support of Clean Power Plan, aiming to reduce the climate change-causing pollution.
The strategy would limit the carbon dioxide emissions from the power plants by 32% as compared to 2005 levels by 2030. 27 states & a group of oil companies are litigating Obama’s administration of violating its authority.
“(We) believe that the Clean Power Plan, when fully implemented, wouldn’t cause business harm to operations as large energy consumers and purchasers,” wrote the 4 companies in their submission to court.
“Swift & full implementation of Clean Power Plan will directly benefit the companies’ operations,’’ they added.
Devotees of the plan include 208 current & former members of Congress, along with 18 states.
In Feb, Supreme Court halted implementation of plan while the appeals court decides a lawsuit. The appeals court is planned to hear arguments in June.
By taking a legitimate position in support of Clean Power Plan, the companies aim to demonstrate that the renewable energy makes financial sense.
Rob Olson, who is IKEA’s chief financial officer, had said that It becomes more practical & real when a company can demonstrate their value & the return they see in solutions that provide clean power.
“It makes true business sense across the board. It’s produced the return on investment that we need to see,” he added,
IKEA is on the track to offset all of its global power consumption with the renewable energy production in coming 4 years.
In July, the company said that it intends to spend 1.13 billion dollars on the clean power & steps to help developing countries to deal with the global warming issue. IKEA in 2014 had bought 83,000 acres of the Romanian forest in an effort to decrease the wood consumption in its furniture & to sustainably manage the woodlands where it harvests timber.
“We’re able to invest in this & have a positive business impact, as well as a positive environmental impact,” said Olson.