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Dozens of corporate giants join US climate pledge

President Barack Obama hosts a roundtable with CEOs to discuss efforts to tackle climate change both in the United States as well as on a global scale at the White House in Washington October 19, 2015.

Kevin Lamarque | Reuters

President Barack Obama hosts a roundtable with CEOs to discuss efforts to tackle climate change both in the United States as well as on a global scale at the White House in Washington October 19, 2015.

President Barack Obama is pursuing private sector support ahead of the U.N. conference and more corporations are expected to sign the pledge before it begins on Nov. 30.

“This progress isn’t just creating a safer planet. It’s creating jobs, it’s creating business opportunities and it’s something that customers are increasingly looking for,” Obama told reporters after a meeting with business leaders Monday.

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The pledge’s signatories announced on Monday span the spectrum of major American corporations, and also include Bank of America, Best Buy, Coca-Cola, General Motors, Google and Wal-Mart.

Obama contended the transition to renewable energy has, in some cases, has helped corporate bottom lines rather than hurt them.

The White House said it also expects a consortium of major investors to announce on Monday $ 1.2 billion in investment capital for companies and projects that can “produce impactful and profitable solutions to climate change.” The initial group of investors includes the University of California, TIAA-Cref and the Alaska Permanent Fund, according to the White House.

CNBC contributed to this report.

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