The Story of Stuff: Externalized Costs and the $4.99 Radio

April 1, 2015 at 9:43 am Leave a comment

A study currently underway for the United Nations is calculating the cost of pollution and other environmental damage caused by the 3,000 largest publicly held corporations in the world. The study, which will be published this summer, has found that the cost of environmental damage by these companies is $2.2 trillion, or more than one-third of their profits if they were held financially accountable. This includes greenhouse gas emissions, other pollution, and water degradation. The final amount is likely to increase once additional costs — like toxic waste — are incorporated.

What the UN report means is that a big chunk of the profits these big companies are making is due not paying the full cost of extraction, production, distribution and disposal. They are shoving a whole range of costs — from pollution to climate change to water depletion — onto us. Communities around the world are bearing the costs with degraded health, soil, water and climate change. That’s just not fair.

Read the full article by Annie Leonard here.

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Entry filed under: Business, Economy, Investment.

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