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Alberto's avatar

"The idea that private actors will fully internalise the externalities they are causing, and fully pay for natural capital they have previously considered free, is outlandish" - while this is generally true for the vast majority of firms, the beneficiaries of enormous profits (ie Microsoft, Apple) seem to be doubling down on carbon credits, renewable/nuclear PPAs (power purchasing agreements) and manufacting products with fully recycled** materials. What motivates these corporations to move in that direction? ESG credentials seem very unfashionable today, so maybe it's down to marketing to the climate-conscious? Or is it that, in a shocking move for a public company with quarterly earnings reports, they aknowledge that there won't be a market for much longer if they don't take action to limit their climate impacts? Do these perverse motivations take away from their actions?

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