Corporate/Investors' Greed Might End Up Saving the Earth from Eco-Armageddon
Vinnie and Luigi will be right over to collect.
The world's wealthiest investors — motivated solely by their own financial interests — might be the wild card as the climate change battle heats up. No, they didn't suddenly get all warm and fuzzy about a bunch of smelly animals.
According to a report from The Economist, environmental destruction caused by climate change “may wreak a whopping $4.2 TRILLION in havoc upon rich investors’ portfolios if they don’t act NOW.”
Also from the linked article:
“...even if today’s Masters of the Universe are wealthy enough to not starve, drown, or get Mad-Maxed like the rest of us...they may experience something even worse, God forbid: The inability to 'fulfill their fiduciary duties.'”
“Investors currently face a stark choice. Either they will experience impairments to their holdings in fossil fuel companies should robust regulatory action on climate change take place, or they will face substantial losses across the entire portfolio of manageable assets should little mitigation be forthcoming.”
Or as Gordon Gekko used to say: [sometimes] “greed is good.”