Business leaders ignoring climate change is ‘bad’, says environmentalist Fred Krupp

Environmental Defense Fund CEO Fred Krupp issued a warning to leaders: Ignore climate change at your peril.

He explained that real business leaders are expecting big changes in the economy, and that is actually climate change as the world seeks to reduce growth from carbon-based energy sources. “This clean energy revolution will make the whole internet explosion look like a lemonade stand,” Krupp said. “There will be huge profit opportunities. There are also some weaknesses. I mean, I think that CEOs who don’t understand are going to do a business school of birth – not in a good way. But those who get it will be able to get a lot of benefits.

But as the impact of the climate becomes more apparent – both in the form of fires, droughts and storms – the situation for presidents who want to adapt to these risks is not easy.

Similarly, business leaders face recession risks and imminent energy concerns, particularly in Europe. And on the other hand, opposition to green policies has become louder.

In late August, the anti-ESG movement came to a head when Texas moved to ban hedge funds such as BlackRock from doing business with them for investment projects that focus on environmental, social and economic issues. government. (ESG). That month, 19 Republican state attorneys general signed a BlackRock letter that attacked the insurance fund support of the Paris Agreement, which seeks to limit global warming below 2 degrees Celsius.
Krupp said there are valid criticisms to be made of ESG, “but then there are politicians trying to score political points.”

“I’ll tell you this,” Krupp added, “if I was running a company that would be banned in one of these states, you know, asking the president to Focus on climate change, I will leave this state and do business elsewhere, because it is unemployment.

Global leaders private sector will have the opportunity to announce more climate commitments and plans at a UN climate event in Sharm el-Sheikh, Egypt, from Sunday. Cooperation between business and government will be key to keeping the 2 degree mark of the Paris Agreement alive and avoiding the worst human impacts.

So far, progress in combating climate change is “not very fast,” Krupp said, but he remains optimistic about humanity’s ability to act. “The steps we’ve taken so far are incomplete, small and incremental,” Krupp said. “We need to be big and bold now or we’re headed for a train wreck. We are already seeing the effects of everything from droughts to heavy rains to hurricanes and floods. However, there are green shoots.