World's top firms cause $2.2tn of environmental damage, report estimates

[kpete]

Source: Guardian UK

World's top firms cause $2.2tn of environmental damage, report estimates

Report for the UN into the activities of the world's 3,000 biggest companies estimates one-third of profits would be lost if firms were forced to pay for use, loss and damage of environment

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companies would wipe out more than one-third of their profits if they were held financially accountable, a major unpublished study for the United Nations has found.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.

Later this year, another huge UN study - dubbed the "Stern for nature" after the influential report on the economics of climate change by Sir Nicholas Stern - will attempt to put a price on such global environmental damage, and suggest ways to prevent it. The report, led by economist Pavan Sukhdev, is likely to argue for abolition of billions of dollars of subsidies to harmful industries like agriculture, energy and transport, tougher regulations and more taxes on companies that cause the damage.

Ahead of changes which would have a profound effect - not just on companies' profits but also their customers and pension funds and other investors - the UN-backed Principles for Responsible Investment initiative and the United Nations Environment Programme jointly ordered a report into the activities of the 3,000 biggest public companies in the world, which includes household names from the UK's FTSE 100 and other major stockmarkets.

Read more: http://www.guardian.co.uk/environment/2010/feb/18/worlds-top-firms-environmental-damage

[SpiralHawk]

1. "Just send us the bill. Smirk." - RepubliCorps

"As if...

"Why don't you noisy proles just STFU, join the Republicon Teabagger Party, and consume as we have programmed you to do. Smirk."

- RepubliCorps

[defendandprotect]

2. As studies and thoughtful people understand, "bus-i-ness" is a waste of our time ...

intended solely to move wealth from many to the few --

and harmful to the planet --

We would be better off without the Industrial Revolution or Capitalism!

[fascisthunter]

3. fast forward into future: "Hi, I'm a Republican. I'm proud of decimating the earth

for money... why is everybody looking like that at me? What did I say?"


Have fun being that person rightie.... you deserve the praise.