408 businesses and investors with a footprint in the United States have signed a powerful open letter to President Biden indicating their support for the Biden administration’s commitment to climate action, and for setting a federal climate target to reduce emissions.

The letter was published as the world awaits the Biden administration’s announcement of a 2030 emissions reduction target, or Nationally Determined Contribution (NDC) pursuant to the Paris Agreement, in the lead-up to the Leaders Summit on Climate.