Economists calculate that the world's corporations produce so much climate change pollution, it could eat up about 44% of their profits if they had to pay damages for what they put out.
The first generation of solar panels will wear out. A recycling industry is taking shape
That calculation shows “which activities are particularly costly to society from a climate perspective,” Leuz said. Still, he cautioned that “it would not be correct to just blame the companies. It is not possible to divide responsibility for these damages between the firms that make the products and consumers who buy them.”
At $190 a ton, the utility industry averaged damages more than twice its profits. Materials manufacturing, energy and transportation industries all had average damages that exceeded their profits. Several outside experts said the study made sense within certain limits, while a few found faults with some of the choices of what to count, saying not counting downstream emissions is a problem. Because it doesn’t count those it “does not provide an incentive to reduce these to the level needed,” said Bill Hare, CEO of Climate Analytics, which studies global emissions and reduction efforts.
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