Some 94% of businesses worldwide feel that organisations should reduce their greenhouse gas emissions even when the law does not require them to... according to a new report from Imperial College London, which reveals that 79% of firms believe climate change poses a risk to their business.
A proper carbon tax would be one of those risks - and could wipe billions from polluters' profits:
A group of leading economists warned this year of catastrophic global warming within 13 years unless countries ramped up taxes on carbon emissions to as much as $100 per tonne. The economist and Nobel laureate Joseph Stiglitz and the former World Bank chief economist Nicholas Stern were among experts who said governments needed to tackle polluting industries with a tax on carbon dioxide at $40-$80 a tonne by 2020.
Many economists have described climate change as an example of market failure, as unbounded capitalism has so far failed to curb rising pollution. Global warming puts a huge cost and risk on future generations who will suffer the consequences, without these costs and risks being reflected in market prices.
Aggregate Industries' 2.5 million mile CO2 belching haulage plan for Straitgate clearly shows that it's above all this climate concern; that the heavy lifting can be left for others; that it is indeed one of the 6%.
