The cost of pollution and other damage to the natural environment caused by the world's biggest companies would wipe out more than one-third of their profits if they were held financially accountable, a major unpublished study for the United Nations has found. The report comes amid growing concern that no one is made to pay for most of the use, loss and damage of the environment, which is reaching crisis proportions in the form of pollution and the rapid loss of freshwater, fisheries and fertile soils.....Another major concern is the risk that companies simply run out of resources they need to operate, said Andrea Moffat, of the US-based investor lobby group Ceres, whose members include more than 80 funds with assets worth more than US$8tn. An example was the estimated loss of 20,000 jobs and $1bn last year for agricultural companies because of water shortages in California.Are profits the most important thing in the world? More important than healthy ecoysystems? Just in case no one else has noticed, I'd like to point out that the economy is a subset of the environment, not the other way around. We have no Planet B - so let's work for a velvet climate revolution - a world that is sustainable and more democratic than the one we live in now.
Thursday, February 18, 2010
Are Profits The Most Important Thing?