Green Expectations

Hannah M. Muralla reports for Business World

A good chunk of the globe’s biggest businesses are also, quite unsurprisingly, its most infamous polluters.

Data from the United Nations Environment Programme (UNEP) Finance Initiative and UN-backed Principles for Responsible Investment (PRI) cited that the world’s top 3,000 companies were responsible for $2.15 trillion worth of environmental damage in 2008, with utilities, oil and gas producers, and industrial metals and mining firms cited as the biggest culprits in the industry.

That figure could swell to $28 trillion in 2050 if no concrete steps are taken to curb greenhouse gas emissions, unsustainable resource use, and water and air pollution.

The environment, stressed UNEP Finance Initiative executive director Paul Clements-Hunt, is also the business of businesses. “Using our natural assets efficiently entails collective action…The bottom line is that if we are to achieve a sustainable global economy, we must stop drawing down our natural capital,” he said.

Read the full story Green Expectations at BusinessWorld Online

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