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Climate Disasters Are Highly Lucrative — Global Issues


A new analysis of the “investments of the world’s 125 richest billionaires shows that they are emitting 3 million tons a year on average, more than a million times the average of someone in the bottom 90% of the world.” of humanity.” Credit: WA
  • by Baher Kamal (Maroc)
  • Associated Press Service

See what happens.

Invest in war

A few dozen companies involved in the production of the most inhumane weapons of mass destruction – nuclear warheads, have been supported by more than 150 major banks by lending them money or underwriting bonds, according to the report. International Campaign of Nobel Peace Prize Winners to Abolish Nuclear Weapons (I CAN).

Its Don’t bank on bombs The report also shows 186 other institutions looking to profit from holding stocks or bonds. And a total of 338 financial institutions have provided more than $685 billion to the nuclear weapons industry since 2019.

This exercise – and the massive ‘investments’ of the world’s top wealthy corporations – have proven highly effective.

In fact, in his report “Waste: Global Nuclear Weapons Spending in 2021 I CAN revealed that in 2021 – a year before Russia invaded Ukraine – nine nuclear-armed countries spent US$82.4 billion on these weapons of mass destruction, which is more than $156,000 America… every minute!

Another prestigious investigative center: the Stockholm International Peace Research Institute (SIPRI) recently disclosure that, right now, of the estimated total stockpile of 12,705 warheads at the beginning of 2022, about 9,440 warheads are in military stockpiles for potential use.

Of those, an estimated 3,732 warheads have been deployed with missiles and aircraft, and about 2,000—nearly all belonging to Russia or the United States—are on “high operational alert” status. , SIPRI added in Yearbook 2022.

Investing in climate disaster

But there is another highly lucrative business: climate change.

“The richest people in the world emit a huge and unsustainable amount of carbon, and unlike the average person, 50% to 70% of their emissions are due to their investments,” revealed a global movement of people fighting inequality to end poverty and injustice–International OXFAM.

“A billionaire emits a million times more greenhouse gases than the average person.”

Its recent major research: Carbon Billionaires: Investment Emissions of the World’s Richest Peoplereports that a new analysis of the “investments of the world’s 125 richest billionaires shows that they are emitting 3 million tons per year on average, a million times more than the average person in the bottom 90% of humanity.”

The study also found that billionaire investments in polluting industries such as fossil fuels and cement are more than double the Standard & Poor’s 500 group average.

“Billionaires hold stakes in many of the world’s largest and most powerful corporations, which gives them the power to influence how these companies operate.”

After being destroyed, the business will make more money

In both cases, war and climate catastrophe cause immense devastation, let alone untold human suffering and death.

Both have sharpened the unprecedented food crisis in the world.

Also here, market magnates continue to earn high profits.

In fact, a small number of corporations have a high degree of influence over the global industrial food system, aided by mergers and acquisitions to form giant mega-corporations. , allowing for further horizontal and vertical centralization, as well as influence on national and global governance and policymaking”, as noted report by IPS.

Regarding the current energy crisis, the head of the United Nations António Guterres in mid-September 2022, stated that “it is completely unacceptable to see that, when people are suffering so much in different parts of the world and in particular because of high energy costs and high fuel costs, the see the most profitable fossil fuel companies last nightr or at least recently.”

Why not: in addition to speculating with the energy market, these companies are largely funded by the government. In reality, Politicians have spent six trillion dollars of taxpayer dollars subsidizing fossil fuels in just one: 2020. And they expect to grow this to nearly seven trillion in 2025.

More business “opportunities”

Then comes the great business of recreating all that the business of making money has contributed so much to. Buildings, highways, bridges, hospitals, schools, universities, etc., not to mention synthetic food.. all of this is paid for by the victims.

But there are more business opportunities, such as continuing to buy large fertile lands for monoculture and agricultural intensification, a method of making money that by the way opens up opportunities for high-tech corporations. increasingly digitize food production, among many other industries.

By the way, a production process is also being greatly disrupted due to both war and climate catastrophe.

© Inter Press Service (2022) — All rights reservedOrigin: Inter Press Service

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