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Study reveals how much carbon damage would cost corporations if they paid for their emissions

Summary

A study conducted by economists of nearly 15,000 public companies has estimated that corporations worldwide could lose about 44% of their profits if they were to pay damages for their climate change pollution. This calculation, based on the cost of carbon dioxide pollution proposed by the US government, could amount to trillions of dollars globally and hundreds of billions for American firms. The majority of these projected damages come from industries such as energy, utilities, transportation, and manufacturing. The study, published in the journal Science, highlights the potential financial impact on corporations if they were to be held accountable for their emissions. The authors suggest that requiring companies to report their emissions could influence both consumer behavior and stockholder pressure for more environmentally friendly practices.

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