“Fortune Global 500 companies made more than $2.2 trillion in annual profits over the last three years, according to a recent report by Climate Impact Partners. Investing only 1.5 percent of that — about $33.5 billion — to fund carbon reduction projects like forest conservation, reforestation and micro-renewables would be a massive step toward achieving the transformational change required to hit global climate action targets.”
[COMMENTARY] Superficially, this sounds good. However, the funds here would go to carbon offsets which have come under increasing concern among those in the climate change community. Even if this 1.5% of profits became a goal, I believe one of the most important actions yet to be undertaken is discussing directly with the numerous corporate leaders who disbelieve in the very idea of carbon-induced climate change! Look at the US Republican Party’s anti-ESG stance. Their party members control many of the world’s largest companies.
1.5 Percent of Corporate Profits Can Transform the Fight Against Climate Change, by Abha Malpani Naismith, May 26, 2023, TRIPLE PUNDIT, USA.