Friday, October 13, 2006

When the Business World Fights Global Warming.

The common belief is that the businesses industry is against the much needed measures to combat Global Warming. After all, some businesses even fund pro-pollution ads that claim that Carbon dioxide is good for you. It seems that as long as there is no economic incentive, there will hang on to their current modes of operation.

However, there is one type of business that is beginning to worry about Global Warming: the insurance industry. It makes sense – they’re the one that can most be damaged by and benefit from the consequences of the changes in climate.

This is not just good news; this is major news for anyone who cares about the environment as the Christian Monitor reports:

The insurance industry's clout is sizable. It's the second-largest industry in the world in terms of assets, and has a direct link to most homeowners and businesses. It insures coal-fired power plants as well as wind farms, so it can influence the power industry's cost structure. With its financial muscle, the industry could help advance the use of new financial instruments designed to allow companies to trade greenhouse-gas emissions in the same way that commodities are bought and sold.

Wishful thinking? Apparently not. As long as there is money to make a profit, they'll certainly do it and who cares if their motivation is simply to make money as long as they help get the job done.


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