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> as investors focused on near-term returns rather than the energy transition. If the justification for burning the earth to the ground continues to be “invest
by tw04 2y ago
> as investors focused on near-term returns rather than the energy transition.
If the justification for burning the earth to the ground continues to be “investors focused on short term returns” then governments need to start telling companies like BP they are legally and financially responsible for the effects those policies have on insurance rates and everything else.
At some point if they can’t do the right thing because it’s a sound long term investment strategy, they need to pay the real price of their short term focused strategy.
- cortesoft 2y agoThe way to do this is to price in the effect of the transactions on global climate. The reason the market will never solve this issue is because the cost is an externality; if we made it so every good sold included the cost to offset the damage to the environment, the market could address this issue.
- animal_spirits 2y agoThese are called effluent taxes and should be part of the talk around climate change and government. https://www.encyclopedia.com/environment/encyclopedias-almanacs-transcripts-and-maps/effluent-tax https://www.encyclopedia.com/environment/encyclopedias-alman...
- wahnfrieden 2y agoGovts are in on the spoils of it. There’s no reason for govts to attain power over people and use it to lose their own power by destroying their economy.
- stonethrowaway 2y agoYeaaaahh you keep saying that to yourself. The lack of action by people while expecting the government to do something is farcical. “There ought to be a law!” the outraged but impotent mob cries - and there will be one, when you take matters into your own hands and write it, just like the people who established this government did.
- animal_spirits 2y agoSoon I hope there will be a Github-for-law that we can all at least contribute requests to, with the proper structure, formatting, review process, and validation.