Deere Quits Climate [Scam] Coalition Supporting Cap-And-Trade | Real Time Market News | Dow Jones

CHICAGO -(Dow Jones)- Deere & Co. (DE) has quietly dropped out of a coalition of large companies that has supported a cap-and-trade program for reducing carbon dioxide emissions.

Deere, the world's largest manufacturer of farm machinery, opted to leave the U.S. Climate Action Partnership in May because the group's legislative strategy "no longer served as a foundation for moving forward" with climate change regulation, Ken Golden, a spokesman for the company said Tuesday.

"We came to the conclusion that Deere had other opportunities to be involved in climate change initiatives," Golden said.

Increased Exposures, Not Climate Change, Responsible For Higher Cat Losses - Commercial Insurance & Reinsurance

Economic and insured losses from natural disasters have increased over recent decades, but a new report studying analyses of these events concludes anthropogenic climate change is not a main driver behind the increase.