Trees Money

The U.N.’s Global Climate Change Summit in Paris this December is turning into a bit of a telethon. Today, reports indicate that 13 global corporations have pledged $140 billion to reduce their carbon footprint and fight climate change. There you go, Earth. Don’t give up, don’t ever give up.

It’s a cool list of companies. Apple and Microsoft are on the list because of course they are. General Motors is on there because they need to look like they care. We know Coca-Cola is all about the polar bears.

There are also a number of financial firms on the list, which is very interesting: Goldman Sachs, Bank of America, and Berkshire Hathaway have all made pledges to the initiative. Look, I like to hate on Goldman just as much as the next guy, but when I think about companies destroying the environment, Goldman doesn’t really pop. Look at all the things, besides the money, that these companies are pledging to do:

In addition to the investment pledges, the companies will also agree to collectively install at least 1,600MW of renewable energy capacity, reduce water use by 15 per cent, move towards using only renewable power, and target the delivery of zero net deforestation in their supply chains.

Deforestation? We’re not chopping down the rainforests so Warren Buffett can have crisp twenties.

These companies don’t contribute a whole lot to our greenhouse emissions… they invest in companies that are ruining the planet. If Goldman said “we will not invest in companies that don’t have at least 1,600MW of renewable energy capacity,” I’d notice. Everybody would notice. That would be a hell of a commitment.

This is just a hell of a press release.