Corporations Begin to Fight Climate Change

The New York Times reports that industry giants, such as Coca-Cola, are beginning to recognize the “economically disruptive force” of climate change.

“Coke reflects a growing view among American business leaders and mainstream economists who see global warming as a force that contributes to lower gross domestic products, higher food and commodity costs, broken supply chains and increased financial risk.”

“Their position is at striking odds with the longstanding argument, advanced by the coal industry and others, that policies to curb carbon emissions are more economically harmful than the impact of climate change.”

The threat of climate change will be a key discussion topic among corporate heads and politicians at the World Economic Forum in Davos on Friday.

Even the wealthy and powerful are tackling climate change issues: “The California hedge-fund billionaire Thomas F. Steyer … is working with Michael R. Bloomberg … and Henry M. Paulson Jr. to commission an economic study on the financial risks associated with climate change. The study, titled “Risky Business,” aims to assess the potential impacts of climate change by region and by sector across the American economy.”

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