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Climate change is costing the world $16 million per hour: study (www.weforum.org)

submitted 1 year ago* (last edited 1 year ago) by lntl@lemmy.ml to c/worldnews@lemmy.ml

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You'd think this would give us some wiggle money to play with to build out new energy infrastructure. You're wrong though, there is no wiggle. We need all renewables like Germany.

Although the transition to EVs will require an enormous increase in base production capacity, it would be wasteful to build out nuclear to meet it.

$16m an hour might seem like a lot of damage, but nuclear can only exacerbate economic loss which is equally important as climatic loss.

Renewables now!

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[-] yogthos@lemmy.ml 3 points 1 year ago

It's not costing the companies that are causing it anything though because the cost is subsidized by the public.

[-] IzyaKatzmann@hexbear.net 2 points 1 year ago

In Econ there's opportunity cost, I think that's what companies end up losing, the greater profit they could have made (if they were like a bit less short term oriented).

[-] yogthos@lemmy.ml -1 points 1 year ago

Sure, but that's generally ignored by company owners and investors. All companies try to do is to maximize profit for each quarter, this tends to be the singular metric which is completely at odds with any sort of long term planning.