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$300 billion cost of climate change
2 February 2001
The United Nations says climate change could cost the world $300 billion a year, if action is not taken to cut emissions from the burning of coal, oil and gas [1].
Mark Johnston, Climate Campaigner at Friends of the Earth commented:
“This report shows the devastating economic cost of climate change but still hides the desperate human misery that the disruptive extreme weather events will bring.
“Last week, ExxonMobil, the world's largest oil company, announced the world's largest ever corporate annual profit of $16.9 billion, but even this figure is dwarfed by the cost of the damage from the climate change that the oil industry has done so much to create.
“It's time ExxonMobil and other oil companies realised the age of oil is ending,stopped investing in further destruction and started investing instead in clean renewable energy.
“Political leaders, and the oilman George W Bush in particular, must restart the suspended climate talks as soon as possible and agree a deal to cut the pollution that is costing us so much.”
[1] The United Nations Environment Programme - www.unep.org/MediaRoom/pressrelease/
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Published by Friends of the Earth Trust
Last modified: Jun 2008
