A new business coalition on climate change was formed last week by Nike, Starbucks, Levi Strauss, and Sun Microsystems. The companies say they are prepared to lobby on climate and environmental legislation.

The coalition, dubbed

BICEP's agenda includes a requirement that 20 percent of the nation's electricity be generated by renewable sources by 2020; a goal of reducing greenhouse emissions to 25 percent below 1990 levels by 2020; and a cap-and-trade emissions scheme, a policy supported by President-elect Barack ObamaBarack Hussein ObamaOvernight Energy: Dems ask Pruitt to justify first-class travel | Obama EPA chief says reg rollback won't stand | Ex-adviser expects Trump to eventually rejoin Paris accord Overnight Regulation: Trump to take steps to ban bump stocks | Trump eases rules on insurance sold outside of ObamaCare | FCC to officially rescind net neutrality Thursday | Obama EPA chief: Reg rollback won't stand Ex-US ambassador: Mueller is the one who is tough on Russia MORE that places a limit on greenhouse emissions and lets businesses buy and trade emissions credits.

The coalition was assembled by Ceres, an environmental group that seeks to work with corporations and investors to push for environmental policy change. Ceres says it is acting as policy coordinator for the group and that it is hiring a DC-based director of government relations to aid in BICEP's lobbying efforts, though the financial commitment from BICEP's members remains unclear.