Manitoba Wildlands  
Environmental Impacts of Industry Assessed 5 May 10

UN logoAn unpublished study, conducted for the United Nations by Trucost, has found the cost of pollution and environmental damage caused by the world's biggest companies would wipe out more than one-third of their profits if they are held financially accountable.

The study, due to be published this summer, found the estimated combined environmental damage was worth $2.2 trillion dollars as of 2008.

The biggest single impact in the $2.2 trillion dollar estimate, accounting for over half of the total costs, are greenhouse gases emissions related to climate change. Other major costs were local air pollution such as particulates, and the damage caused by the over-use and pollution of freshwater.

The true figure is likely to be even higher because the $2.2 trillion does not include damage caused by household and government consumption of goods and services, such as energy used to power appliances or waste; "social impacts" such as migration of people driven out of affected areas, or long-term effects of damage other than that from climate change. The final report will also include a higher total estimate which includes long-term effects of problems such as toxic waste.

View February 18, 2010 Guardian article

Source: The Guardian
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