Profiting from Climate Change

by Gary Olson

A recent Bloomberg View (2/24/14) headline reads, “Profit From Global Warming or Get Left Behind.” In his new book, WINDFALL (New York: Penguin, 2014), veteran journalist McKenzie Funk traveled the globe for six years, following the money in twenty-four countries to profile “hundreds of people who felt climate change would make them rich.”

In a separate interview, Funk notes that “on Wall Street you no longer get a lot of climate denial.” Largely indifferent to the causes of climate change, his respondents decided early on that investing in green technology was a losing proposition. Instead “the warmer the world, the less habitable it became, the bigger the windfall.”

In 2008, Royal Dutch Shell developed two sophisticated climate-risk scenarios called Blueprints and Scramble. The first modeled a greener future while the latter predicted – due to government inaction – a future of droughts, floods, heat waves and super storms. By 2012, Shell executives confided to Funk “We’ve gone to Scramble. This is a Scramble kind of world. This is what we’re doing.” Another Shell official opined “I will be one of those persons cheering for an endless summer in Alaska.”

More:  http://www.commondreams.org/view/2014/03/31-6

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