To The Editor:
The Paris Agreement on climate change garnered enough signatories, and went into force Friday. Economists see it as a framework for cooperation among countries, those not pulling their weight may suffer penalties such as trade sanctions. Meanwhile, some astute multinational corporations are already seeing the positive economic benefits of climate action.
L’Oréal, a leading beauty company, reduced its CO2 emissions by 56% 2005-2015, while experiencing a 26% increase in production. They had an ambitious strategy of improving energy efficiency across facilities, increasing the use of renewable energy, and developing low carbon innovations.
AstraZeneca, a multinational pharmaceutical company anticipates an increase in future profits while committing to source 100% renewable power by 2025 and establishing the natural resources capital fund.
These and many other corporate examples fly in the face of The Merchants of Doubt, the glib and seasoned marketers who profit from the idea thatclimate change is a hoax would have us believe that there is no benefit to a carbon-free economy.
Public opinion about offsetting the effects of global warming would be strengthened if we heard more stories about the economic benefits of climate action.