Currently, the things driving climate change are extremely profitable. Oil companies make billions if not trillions of dollars per year in profit. And some companies have even made climate change itself profitable by selling things like carbon offsets (which are just tickets to keep polluting) and does nothing to actually address the problem.
We’re not going to see any meaningful push for climate mitigation until climate change starts hurting wealthy people in their wallets.
The problem is, by the time these investment properties start getting swallowed up by the sea the ball is already rolling too fast to do anything about it.
When the rich start panicking about climate change we know we’re fucked.
Currently, the things driving climate change are extremely profitable. Oil companies make billions if not trillions of dollars per year in profit. And some companies have even made climate change itself profitable by selling things like carbon offsets (which are just tickets to keep polluting) and does nothing to actually address the problem.
We’re not going to see any meaningful push for climate mitigation until climate change starts hurting wealthy people in their wallets.
The problem is, by the time these investment properties start getting swallowed up by the sea the ball is already rolling too fast to do anything about it.
When the rich start panicking about climate change we know we’re fucked.
https://www.investopedia.com/articles/personal-finance/010715/worlds-top-10-oil-companies.asp
Data is 6 months old but total profit at the time for TTM was $350B across all ten top oil companies.