Corporate climate polluters must pay for damage
Who should pay the huge costs of climate change’s damage? There’s a case for corporate climate polluters to contribute.
The world’s big oil and mining companies emit vast amounts of climate-changing greenhouse gases into the atmosphere.
By extension, the actions of these corporate giants stand accused of contributing to floods and droughts and other climate-related disasters around the globe, extremely costly in both human and financial terms.
Our suggestion, which we describe as “a hypothetical climate liability regime”, is for the companies to become at least partially liable to pay for their destructive, climate-changing activities.
Investors should also be made aware of the risks involved in putting money into such enterprises. Only then will a realistic market valuation of these companies be calculated.