The companies announced their decision at the One Planet Summit hosted by French President Emmanuel Macron in Paris. Coming a month after the COP23 in Bonn, Germany, the announcement puts the companies in a position similar to the "Powering Past Coal Alliance," a partnership of 26 nations founded in Bonn by Britain, France, Mexico, New Zealand, Costa Rica and the Marshall Islands.
As the world increasingly looks to be on track for a catastrophic 3°C of global warming, world leaders and diplomats gathered in Bonn, Germany to turn the Paris agreement into a set of rules.
In that sense the 23rd Conference of the Parties (COP23), which concluded on Saturday, accomplished its goal of keeping the process alive by setting up the rules that will be finalized next year in Poland. But the conference also kicked a number of issues down the road. The round of climate talks heard repeated calls for a more ambitious approach to slashing carbon emissions but did not initiate any conclusive solutions, though it should be noted that no major decisions were expected.