TIME reports on private sector commitments from more than a dozen companies to invest $140 billion in new funds to fight clmate change. The initiative is a White House-organized effort that aims to show private sector commitment to the climate issue, the White House announced yesterday.

TIME reports that the initiative is only the latest in a series of efforts by the Obama administration to position global warming as a major priority in the lead-up to the COP21 in Paris at the end of the year.

“They’re not just committing to support a successful outcome in Paris, they’re walking the walk,” Brian Deese, the president’s senior climate change advisor, told TIME on a conference call for journalists. “Commitments are varied, but the thing they all share is that they’re innovative and ambitious.”

They’re not just committing to support a successful outcome in Paris, they’re walking the walk.

Some of the U.S.’s most prominent corporations have committed to this funding initiative, with unique contributions from each sector. Financial institutions like Goldman Sachs and Bank of America have committed to devote billions to renewable energy plants, while tech companies like Google and Microsoft have committed to purchase 100% of their energy from renewable sources. Product companies like Walmart and Pepsico announced that they will address elements of their supply chain to become more environmentally conscious.

“What’s exciting about this is these commitments are new and push beyond what has been done,” said Deese. “They are accountable, measurable and verifiable.”