As climate impacts intensify, they are projected to become more costly. According to the recent National Climate Assessment, by the end of the century, warming at the current trajectory would cost the American economy hundreds of billions of dollars from crop damage, lost labor and the consequences of extreme weather. Similarly, the National Bureau of Economic Research found that climate change could cost the United States 10.5 percent in real income by 2100.

In addition, by backing away from the international climate pact, the United States will fail to fully seize the economic opportunities in the growing clean energy sector. At the same time, other countries — including the nation’s biggest economic competitors — are seizing the opportunities in wind, solar and low-carbon innovation and technology.

Even with the absence of federal leadership on climate change, many businesses are stepping up to reduce emissions. As one of the world’s largest retailers, with operations in over two dozen countries, Walmart has a keen interest in reducing the impact of climate change on customers, our employees and our supply chains.

For example, climate scenarios suggest that retailers will see an increase in the net number of days per year that their facilities will require refrigeration; their communities and customers around the world will be exposed to more extreme weather; and the availability of products like produce and other foods will be threatened from drought and other effects of the warming of the planet. That’s why Walmart and many other companies are looking for ways to improve efficiency and reduce emissions.

In 2017, Walmart began Project Gigaton, which has brought together more than 1,000 of our suppliers in an effort to avoid emitting a cumulative one billion metric tons of greenhouse gases from the company’s global supply chain by 2030. Another example is the Science Based Targets initiative, led by the World Resources Institute, World Wildlife Fund, the United Nations Global Compact and CDP, which works with companies to set ambitious targets for reducing emissions. Under this initiative, 690 companies around the world, including 131 in the United States, have committed to set targets to reduce emissions in line with what science says will avoid the worst consequences of climate change. Walmart has committed to this goal.