GM joins climate pact, Citigroup pledges $50 billion to fight warming
This week saw big businesses make big strides toward climate action — or at least talking about climate action. The U.S. Climate Action Partnership doubled its ranks, adding 14 businesses and green groups including GM, Dow Chemical, PepsiCo, and Shell. Since forming in January, U.S. CAP has pushed for a cap-and-trade system to control emissions. GM, the first automaker to join the group, inspired the most headlines; some critics claimed greenwashing, while others offered cautious praise. “By joining U.S. CAP, General Motors is acknowledging that global warming is a serious and urgent problem,” said Union of Concerned Scientists head Kevin Knobloch. “The key is whether GM will take the additional steps of building and selling vehicles that are significantly cleaner at the tailpipe.” Also this week, Citigroup pledged $50 billion to cut its emissions and invest in clean energy. Activists hailed the news, but were quick to point out that the bank still funds dirty energy. Hey, one step at a time.