Bloomberg: Oil and coal producers join Ivanka Trump to defend climate pact

|By:, SA News Editor

A group within the Trump administration, including Ivanka Trump and Jared Kushner, is recruiting energy companies to support the Paris climate agreement to cut greenhouse gas emissions, Bloomberg reports.

Cheniere Energy (NYSEMKT:LNG), which exports liquefied natural gas, became the latest company to weigh in for the pact via a letter Monday to the White House.

Exxon Mobil (NYSE:XOM), previously led by Secretary of State Rex Tillerson, Royal Dutch Shell (RDS.A, RDS.B) and BP are big-name endorsers of the Paris agreement.

Coal producers Cloud Peak Energy (NYSE:CLD) and Peabody Energy (NYSE:BTU) also are lobbying in favor of the accord, hoping the U.S. will help with carbon capture and other high-efficiency, low-emissions technology to generate electricity from coal.

The Business Council for Sustainable Energy, which represents Calpine (NYSE:CPN), FuelCell Energy (NASDAQ:FCEL), Johnson Controls (NYSE:JCI) and 50 other companies and trade groups, warns that backtracking on the Paris accords risks retaliatory trade policies against U.S. products and consumer boycotts of U.S. goods and services.