Moody’s recently warned that climate change will cause $69 trillion in economic damage globally by 2100, even with warming held to only 2 degrees Celsius.
Fossil fuel interests use their enormous influence to protect a subsidy the International Monetary Fund estimated to be $650 billion in 2015 in the U.S. alone. The bigger problem, however, is that America’s top corporate trade associations follow the fossil fuel industry’s lead.
With so many economic and scientific warnings out there about climate change, America’s corporate trade associations should be steering Congress toward the safe harbor of a strong climate bill. But that’s not what’s happening now — in fact, the opposite is true.
Read the article at Harvard Business Review.
