Wednesday, 7 May 2014

3 reasons why businesses aren't seeking solutions to climate change: Don Pittis


Solar Germany technology

It seems a strange disconnect. If climate change is really causing economic havoc, as outlined in a new blue ribbon Congressionally mandated report from the United States. why is business so insouciant?

That's not the way markets are supposed to work. According to the theory, if there is a problem that needs to be solved, markets move to fix those problems. When that theory holds true, it’s one of the wonderful and useful things about market capitalism.
And there is a problem. According to the report, extreme drought and floods are hitting crop production. Storm damage, wildfires and rising water levels are all imposing real economic costs. From landowners in Florida to maple syrup producers in Vermont, business across the U.S. are feeling the heat.

And the report says those costs are going to continue to climb over the next century.
So if the entire productive capacity of the United States — and by extension Canada — is suffering damage due to climate change, why isn't business onside when it comes to efforts to try and minimize it?
Three potential reasons come to mind.

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