Environmental Costs Outweigh Corporate Profits

The 2015 State of Green Business report was just released, detailing the environmental performance of large companies around the world. The report, produced by GreenBiz and TruCost, illustrates the true costs of pollution, ecosystem depletion, and health impacts of unsustainable natural capital consumption by corporations and the alarming rate at which they are growing. According to the report, environmental costs, like greenhouse gas emissions and water abstraction (removing freshwater from the natural water cycle, and thus preventing its future use), would render most businesses unprofitable if they were responsible for paying for the impacts. The report found that environmental costs tallied up to $1 trillion (or 6.2% of GDP) for companies in the US, and $3 trillion worldwide. The authors state, “Over the past five years, the proportion of company profit at risk consistently exceeds 100 percent of their profit… This means that, on average, companies would be unprofitable if they had to pay the actual costs associated with the commodities they consume and pollution they generate.” It’s not all bad news, however. The report finds that the level of sustainable investment has been growing considerably in recent years. According the 2014 Trends Report published last November by US SIF: The Forum for Sustainable and Responsible Investment, cited in GreenBiz’s report, sustainable assets totaling $6.57 trillion represented almost 18% of the $36.8 trillion in total assets under management, a 76% increase over 2012. Social investors, joined by non-profits and growing consumer […]

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EPA Speaks Out on Keystone Pipeline  

The Keystone XL Pipeline, which would carry roughly 830,000 barrels of tar sands crude oil from Alberta, Canada to the Gulf Coast in the US, has been one of the most polarizing issues in American politics over the past few years. Environmentalists recognize that the pipeline will do little more than encourage continued tar sands extraction, one of the most carbon-intensive oil production methods on the planet. Supporters of heavy industry see the pipeline as a crucial piece of infrastructure that will create a more robust economy including jobs and increased energy security (although the Keystone would produce very few permanent jobs). President Obama has stated that the future of the pipeline project depends on whether or not it will contribute further to climate change. This week, the EPA weighed in on the State Department’s environmental impact statement, using authority granted by the Clean Air Act (CAA) and the National Environmental Policy Act (NEPA). The letter sent to the State Department from the EPA outlines their findings that the pipeline would indeed contribute to climate change. The production, transport, and refining processes, and the burning of the final product would result in an additional 1.3 -27.4 million metric tons of CO2 each year. On the high end, that’s equivalent to the GHG emissions from 5.7 million passenger vehicles or 7.8 coal-fired power plants. With oil prices currently lower than most economists expected, construction of the pipeline would make it cheaper […]

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Amazon Announces Wind Deal, Still has a Long Way to Go

Wind

Today, Internet retail giant Amazon announced the first steps in moving to 100% wind power for the servers that power Amazon Web Services (AWS), its hosting subsidiary. In response to activists (including tens of thousands of Green America members) calling out the company’s failure to create sustainability goals or green their energy sources, Amazon Web Services, Inc. announced a power […]

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New Congress Supports Wall Street, Not the Public

capitol

Congress began a new session at the beginning of 2015, with the Democrats in the House of Representatives handing the reins over to the Republicans. Though the previous Congress wasn’t exactly known for being tough on Wall Street, the recent bill proposed by Representative Michael Fitzpatrick (R-PA) was a predictable giveaway to large financial institutions by way of slashing regulations […]

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Methane Leaks Prompt Calls for Regulation

gas

Hydraulic fracturing, or “fracking,” touted by industry as the technological saving grace to our nation’s energy woes, has caused much concern to the environmental community during recent years. Amidst claims that burning natural gas is a less carbon-intensive source of electricity and heat, frackers have had to defend their business against assertions that their activities cause earthquakes, air and water […]

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Alternatives to Amazon – Environmentally and Socially Responsible Holiday Retailers!

12 Alternatives to Amazon

The holidays are approaching, and like many Americans, you will probably purchase a gift for a friend or family member online. As a proud Green American, however, you may be wondering how the company synonymous with online shopping, Amazon, ranks in terms of sustainability and social responsibility. We did some research on the issue, and found that by most corporate […]

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Update – US Banks Still Investing Heavily in Coal

Coal

Banktrack.org released an updated review of various financial institutions’ holdings in dirty coal energy. Green America promoted a scorecard earlier this year outlining the banks that were the strongest supporters of coal extraction and electricity production. The lowest marks went to Wells Fargo (D+), Bank of America (D-), Citi (F) and Chase (F). Of course, each of these banks has […]

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