Sanders Welcomes Growing Support For Initiative on Global Warming

Senator Bernie Sanders today welcomed an urgent call by a group of major investors and corporations for the United States to dramatically reduce greenhouse gas emissions.

"For years," Sanders said, "the Bush administration turned a deaf ear as the scientific community warned us of the problem of global warming and its disastrous consequences. I hope the president will finally pay attention now the growing chorus of concern includes corporate America."

WASHINGTON - Senator Bernie Sanders today welcomed an urgent call by a group of major investors and corporations for the United States to dramatically reduce greenhouse gas emissions. "For years," Sanders said, "the Bush administration turned a deaf ear as the scientific community warned us of the problem of global warming and its disastrous consequences. I hope the president will finally pay attention now the growing chorus of concern includes corporate America." The investors urging Congress to cut emissions by up to 90 percent of 1990 levels by 2050 include the California Public Employees Retirement System, the largest U.S. pension fund, Merrill Lynch and The Capital Group, which manages $850 billion in mutual funds. President Bush has opposed mandatory greenhouse gas cuts and withdrew the United States from the 2001 Kyoto Protocol on global warming. Sanders is chief sponsor of the bill that most closely tracks the level of greenhouse gas reductions the investors group is seeking. "If we do not act boldly and aggressively our climate faces catastrophic changes. It's that simple," added Sanders, a member of the Environment and Public Works Committee. Sanders and Senator Barbara Boxer, who chairs the Environment and Public Works Committee, have proposed the Global Warming Pollution Reduction Act, which calls for an 80 percent reduction compared to 1990 emission levels by 2050. "By enacting these guidelines, we can usher in a new era of non-polluting, renewable energy sources," Sanders said. "What makes our proposal even more exciting is its potential to reshape our economy and make the United States a leader in clean and efficient energy technologies creating millions of good paying jobs in the process." The Sanders-Boxer bill also calls on the Securities and Exchange Commission to promulgate regulations requiring corporate disclosures of climate change risks. The group of corporations and investors echoed that concern by suggesting in today's statement that the SEC clarify what companies should disclose to investors on climate change in their regular financial reporting.