Chart Industries Inc
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Industrials : Machinery | Small Cap Growth
Company profile

Chart Industries, Inc. is a diversified global manufacturer of engineered equipment, packaged solutions, and value-add services used throughout the industrial gas, energy and biomedical industries. The Company operates through three business segments: Energy & Chemicals (E&C), Distribution & Storage (D&S) and BioMedical. The E&C and D&S segments manufacture products used in energy-related and industrial applications, such as the separation, liquefaction, distribution and storage of hydrocarbon and industrial gases. Through the BioMedical segment, it manufactures and supplies medical devices, including cryogenic and non-cryogenic equipment, used in respiratory healthcare. The Company also manufactures and supplies products for life sciences, including biological research and animal breeding. Applications in the BioMedical segment include Respiratory Therapy, Life Sciences, Commercial Oxygen and Nitrogen Generation.

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Apple, Google and Coca-Cola among 400-plus companies backing Biden in 50% emissions cut as soon as 2030

9:18 am ET April 21, 2021 (MarketWatch)

Rachel Koning Beals

Signatories employ a combined 6 million U.S. workers across all 50 states and represent more than $4 trillion in annual revenue

More than 400 businesses and investors, including tech and consumer giants and major utilities, say they back the Biden administration in setting an ambitious climate-change goal that would cut U.S. greenhouse gas emissions by at least 50% below 2005 levels by 2030.

Reports Tuesday said the president was near to making such a pledge ( An initial open letter from the group of major companies has picked up additional signatories since its initial release earlier this week, taking the tally to 400 from 300-plus names (, said green investing advocate Ceres.

Read:Biden's Earth Day summit: New 2030 emissions target and all that's expected in push to restore climate credentials (

That emissions-cutting target would nearly double the U.S.'s previous commitment on emissions reduction and the time horizon would require dramatic changes in the power and transportation sectors and elsewhere throughout the economy, analysts say.

Ranging from small companies to major corporations, signatories to the open letter employ a combined 6 million U.S. workers across all 50 states and represent more than $4 trillion in annual revenue.

Biden is considering policy options for expected carbon reductions by 2030 ahead of a virtual international climate summit he is hosting April 22-23 as the administration looks to reup the U.S. leadership role on climate change.

Read:Biden inviting Putin and Xi to global climate talks (

Read:Kerry says Biden poised to issue executive order to force banks and investors to reveal climate exposure (

A 2030 target is considered a nonbinding Nationally Determined Contribution (NDC) and is a key milestone as Biden moves the nation toward his ultimate goal of net-zero carbon emissions by 2050.

Opinion: Why we need all hands on deck to invent the technologies needed to beat climate change (

This week's letter was organized by the "We Mean Business" coalition, a group of companies that support action to accelerate the transition to a carbon-free economy. Green investing advocates Ceres also promoted the effort.

Participants include Apple(AAPL) Alphabet's Google(GOOGL) MicrosoftMSFT (#phrase-company?ref=COMPANY%7CMSFT;onlineSignificance=significant), WalmartWMT (#phrase-company?ref=COMPANY%7CWMT;onlineSignificance=significant), UnileverUL (#phrase-company?ref=COMPANY%7CUL;onlineSignificance=significant), and Coca-Cola(KO). Also signing: ExelonEXC (#phrase-company?ref=COMPANY%7CEXC;onlineSignificance=significant), General ElectricGE (#phrase-company?ref=COMPANY%7CGE;onlineSignificance=significant), General MotorsGM (#phrase-company?ref=COMPANY%7CGM;onlineSignificance=significant), PG&EPCG (#phrase-company?ref=COMPANY%7CPCG;onlineSignificance=significant), Edison InternationalEIX (#phrase-company?ref=COMPANY%7CEIX;onlineSignificance=significant) and dozens others.

"Many of us have set or are setting emissions reduction goals in line with climate science since the establishment of the Paris Agreement. 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," they wrote.

"If you raise the bar on our national ambition, we will raise our own ambition to move the U.S. forward on this journey. 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," the letter said.

Investor signatories of the letter collectively represent more than $1 trillion in assets under management and include pension giants CalSTRS, the New York State Comptroller, the New York City Comptroller and the California State Controller's Office, among others.

Read the full list of participants (

Millions of Americans are already feeling the impacts of climate change, the business leaders wrote, including severe winter storm that caused blackouts in Texas and other states, deadly wildfires in California and record-breaking hurricanes in the Southeast and Gulf Coast.

"The human and economic losses of the past 12 months alone are profound," they wrote. "Tragically, these devastating climate impacts also disproportionately hit marginalized and low-income communities who are least able to withstand them. We must act now to slow and turn the tide."

Opinion:How the Fed could give a green light to environmentally sustainable investments (

While Biden has returned the U.S. to the Paris climate accord after President Trump's withdrawal and Biden has made climate action a major theme of his presidency so far, more action is needed, the business leaders said. "An effective national climate strategy will require all of us," they told Biden, but "you alone can set the course by swiftly establishing a bold U.S. 2030 target."

In a related step, dozens of European lawmakers, business executives and union leaders on Tuesday also urged the U.S. to slash its greenhouse gas emissions in half in the coming decade. They called for a trans-Atlantic alliance for a "just and sustainable transition" toward a low-carbon economy, the Associated Press reported.

Read:Biden to accelerate offshore wind energy projects (

-Rachel Koning Beals; 415-439-6400;


(END) Dow Jones Newswires

April 21, 2021 09:18 ET (13:18 GMT)

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