How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (2024)

How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (1)Climate change (really global warming with a better brand name) has been in the news these past few decades with dire warnings. Climate models have underestimated the warming trend.

The old story of the frog tossed into boiling water and immediately jumping out comes to mind. With climate change the warming is so gradual (and sometimes welcome) we don’t notice we are getting boiled. Yet the temperature inexorably continues to climb. Like the frog, we will stay in the stew until the meat pulls away from the bone.

Fresh faces periodically jump onto the scene. Al Gore made a big splash over a decade ago with his Inconvenient Truth documentary.

This past week a new face entered the drama with Greta Thunberg scolding Congress. After delivering a groin kick to deserving members of Congress she met with allies in Congress and told them, ” I know you’re trying, but just not hard enough.”

As much fun as it is to watch a 16 year old girl knock Congressmen around, the most important point has been missed: Greta “is” the problem.

Same Old Tactics

“The world is coming to and end!” It has been the battle cry of environmentalists from the beginning. Scare tactics worked when pushed hard enough and often enough in the past. Now, after hearing this battle cry for longer than most readers have been alive the echo rings hollow.

Climate change is a money issue. Those against taking action do so on financial grounds. “It will cost too much for something we are not sure will really happen and even if it does it might actually be a good thing,” is their battle cry. And it is easier (and cheaper in the short run) to do nothing.

Then we come to Gore and Thunberg. Remember I said they ARE the problem.

All the while I watched and read about the smack down in Congress I couldn’t help but think about how much CO2 Thunberg dumped into the atmosphere flying* to Washington to give Congress a piece of her mind. Thunberg is right; she needs to try harder.

If the people most concerned about climate change are injecting the most most amount of greenhouse gases into the atmosphere, is there any hope to solve the problem?

Actually, there is.

Re-framing the Argument

Fear stalls people in their tracks. This accountant has strong beliefs about climate change and prefers to call it what it really is: global warming. Gore showing charts of CO2 rocking to the moon did little to move the deniers. It’s not that climate deniers believe climate change is a hoax; it’s that they believe it isn’t a serious problem compared to the costs of mitigation. A warmer winter is welcome in their minds and the negative consequences will not affect them (in their minds).

Continuing to bash on deniers will not work! I’m sympathetic to the cause and know the problem is serious and needs immediate attention. And even I am exhausted by the constant assault by climate doomsayers.If it is so bad and their is no hope, why bother.

There is a solution, but it requires a radical rethinking of the climate change rhetoric.

Cutting greenhouse gas emissions is a good goal that can satisfy climate change crusaders while appealing to the pocketbook of the deniers. In other words, if we reframe the issue as a win/win the message will resonate with virtually everyone. The best part is nobody even has to mention that four-letter word: climate change or global warming.

Solutions that Work

Every time a new solar or wind project is proposed it lists the amount of CO2 that will not be emitted into atmosphere. That is a massive mistake!

Green projects have to be proposed with economics in mind.

This wind farm will drive down costs to local businesses, increasing the competitive advantage of our community in the world market.

How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (2)Who is against that? No mention of climate change. Politics is removed. To be against this is to be against jobs and local economic growth. Not one mention is made about climate change.

A local town hall meeting might sound like this:

CROWD: Is this wind farm going to help climate change?

PROMOTER: Screw the climate. We are about business and economic growth. This will create jobs and increase business profits. Our cost advantages after this project comes online will make us a world leader in multiple industries.

The Republicans will snicker after the event about how they pulled a fast one over on the Democrats. Citizens concerned about climate change will have a similar, yet opposite, conversation in private.

Everyone wins!

Your favorite accountant is sick to death of good ideas getting shot down because climate change was attached to it. Want to kill a good idea? Say is will lower CO2 emissions. Doesn’t matter how good the idea is. Could you imagine tax cuts associated with reduced greenhouse gas emissions? You’d never see another tax cut in your lifetime.

Businesses understand this. Doing environmental good CAN and frequently IS good for the environment. Both sides of the debate are really in the same room, only they got comfortable bashing each other’s faces in and don’t know how to change their behavior.

It is self-defeating to frame trillions of dollars in spending as a climate change expense. Even those who know the problem is real have a hard time wrapping their head around seriously higher taxes to pay for something that will help other nations and people of the future. The “What’s in it for me” thought is strong. It is unfair to complain some are shortsighted on this issue. We all are to some extent.

Solutions where many will lose (taxpayers and business owners) will always have a problem getting their message across.

Changing the Way We Think

Business owners understand the power of changing the way they think in problem resolution. Individuals need to do the same.

Buying an electric car is NOT about saving the environment! It might be a status symbol. But in the end it should make economic sense. If the cost of owning the electric car is less over its entire life than an internal combustion engine (ICE) vehicle it is a logical choice even if the up front costs are higher.

The opposite is also true. There will always be a limited number of people willing to shell out for an expensive car that costs more than similar ICE alternatives. This limited demand will not be enough to reverse the global warming trend.

It smacks me as insane when some lowlifes rejig their truck to belch more smoke or keys an electric car when walking past. The smoke is a different kind of pollution and actually is better for the environment since it settles out of the air reasonable fast. (Think of that if you rigged your truck this way. You actually are saying you are trying to help reduce climate change emissions. Makes you look foolish, doesn’t it?) And keying someone’s car is not only stupid, but ignorant. You are better than that.

Current thinking is politically charged. Greta Thunberg made a splash in the news. Yeah, she got a good one on Congress. And nothing will change. You don’t make friends or solve problems by finding new ways to insult people you need to help you solve a problem.

Instead of focusing on what is in it for us, we need to highlight the advantages to our opponents.

Electric vehicles will give America a competitive advantage.

Changing the electric grid will create jobs.

Businesses will generate an estimates $868 billion (this number is illustration only, not a fact) in additional profits if electric vehicles are fully implemented.

This solar field will reduce reliance on foreign oil, create 328 new jobs, lower utility bills for businesses and consumers and lower taxes over the next decade.

Of course the losers haven’t changed. Big oil is behind the fight against climate change initiatives for good reason; they stand to lose a lot. I don’t like leaving businesses or people behind even if they were part of the original problem. Remember, oil was a solution to a problem a century ago.

The synergies created by good economic policies can be used to create incentives for businesses and individuals negatively affected by the changes.

How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (3)Big oil should receive serious tax credits when pushing into these new areas of business. The transition will be painful, but manageable if proper consideration is given.

Self driving trucks will not need to convince business of the value. Trucks able to run 24 hours a day without payroll expenses is all business will need to hear. Once self driving vehicles are safe enough they will happen. Just as climate change causes issues so will self driving vehicles.

Every problem has a solution that eventually leads to more problems. As long as the improvement overall is steady we are golden. Truckers losing their job will need tax incentives to get them from where they are to where they want to be in a world with out truckers.

Gas stations will always have a place as long as people are on the road. Electric vehicles and people still need to fuel up. Gas stations will need help with the expensive conversion to electric charging stations.

These are not insurmountable problems! We HAVE solved much worse than this. Climate change is real. Unfortunately we are the frog in the water getting cooked at a slow simmer.

Finger pointing is wrong. It never works. You never convince someone of your viewpoint by starting with, “You’re an idiot!”

We must reframe the way we look at climate change. We must change the way we think. This is not us versus them!

Change can be good. And profitable! If only we have the will. Otherwise another kid with a cute message will get a good jab in on Congress thirty years from now when the problem is still unresolved and much worse.

* Some comments argue this statement isn’t fair since she used a “zero emissions” boat to get here. No word on how she gets home after her 5-man team brings the boat back without her. Many reports and newscasts have stated the large carbon footprint of her journey. Thunberg has a 5 man team delivering the yacht back home and some of them presumable flew. At this point we still do not know with certainty if she will fly home or use another source. What is certain is the greenhouse gases emitted from this publicity stunt is reported to be greater than the emissions from a village in India over the course of a year. I stand by my claim.

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How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (2024)

FAQs

Are billionaires to blame for climate change? ›

The super-rich—the top 1 percent of global population by income—bear their own responsibility for climate change. Beyond the carbon footprint of their rich and famous lifestyles, so called “carbon billionaires” are making significant financial investments into wealthy corporate polluters, according to Oxfam research.

Are the rich more accountable for environmental harm than the poor? ›

The richest 1% of humanity is responsible for more carbon emissions than the poorest 66%, with dire consequences for vulnerable communities and global efforts to tackle the climate emergency, a report says.

How are billionaires responsible for global warming? ›

Through the corporations they own, billionaires emit a million times more carbon than the average person. They tend to favour investments in heavily polluting industries, like fossil fuels.

How do the wealthy contribute to climate change? ›

Investment and industry

The investment choices of the wealthy also play a crucial role in shaping carbon emissions. Wealthy individuals often have significant investments in industries that are carbon-intensive, such as fossil fuels, manufacturing, and construction.

Who is the biggest polluter in the US? ›

coal-fired power plant in Quinton, Alabama was the largest climate polluter in the nation with 21.6 million metric tons of carbon dioxide emissions in 2022.

Who has the most historical responsibility for climate change? ›

While China may have been the biggest polluter in 2022, the US has been by far the largest over time. Not only do developed countries bear a greater historical responsibility for climate change, they built their economies — and their wealth — on it.

Do the rich get richer and the poor get poorer in capitalism? ›

No, it is not true. For many decades, the myth that in a capitalist country the rich become richer while the poor become poorer has been spreading all over the world – despite the fact that a quick glance over the facts would show that the economically freer the country, the less poor it is.

Who is healthier the rich or the poor? ›

Middle-class Americans are healthier than those living in or near poverty, but they are less healthy than the upper class. Even wealthy Americans are less healthy than those Americans with higher incomes. Income is a driving force behind the striking health disparities that many minorities experience.

Who is more responsible for environmental damages, rich or poor? ›

In 2010, the most affluent 10% of households emitted 34% of global CO 2, while the 50% of the global population in lower income brackets accounted for just 15%. By 2015, the richest 10% were responsible for 49% of emissions against 7% produced by the poorest half of the world's population.

Who is the number 1 contributor to global warming? ›

Fossil fuels – coal, oil and gas – are by far the largest contributor to global climate change, accounting for over 75 per cent of global greenhouse gas emissions and nearly 90 per cent of all carbon dioxide emissions.

Who owns most of the world's wealth? ›

The richest 1% own almost half of the world's wealth, while the poorest half of the world own just 0.75% In fact, they have acquired nearly twice as much wealth in new money as the bottom 99% of the world's population.

What celebrity has the biggest carbon footprint? ›

Taylor Swift is receiving a lot of heat for the planet-heating emissions of her private jet. Not only is Swift topping the charts but also comes first in the list of celebrities with the highest Co2 emissions from flying, according to an initiative tracking celebrities flying privately.

What is the 1% of the richest people in the world? ›

According to Credit Suisse, individuals with more than $1 million in wealth sit in the top 1 percent bracket. The billionaire class is $2.6 trillion richer than before the pandemic, even if billionaire fortunes slightly fell in 2022 after their record-smashing peak in 2021.

Which billionaire has the highest carbon footprint? ›

Carbon footprints of superyachts owned by five of the wealthiest exceed those of the private jets owned by 10 of the 12 billionaires. Mexican businessman Carlos Slim, the 12th richest man in the world and former part owner of the New York Times, emits 7 million tonnes of CO2, more than any other billionaire.

Who contributes the most money to climate change? ›

The Biggest Economies Provide the Most Climate Finance, but Not Relative to Their Size. In absolute terms, Japan, Germany, the United States, France and the United Kingdom were the five largest providers of climate finance, which aligns with their position as the five largest economies among the 23 developed countries.

Why are billionaires bad for the environment? ›

Billionaires' consumption-based emissions and investment emissions. With their heavy influence over the media, politics, and policy makers, the super-rich are able to protect their financial interests by stopping any progress made towards transitioning to renewable energy.

Is the richest 1% of humanity responsible for more carbon emissions than the poorest 66%? ›

An Oxfam report found that the wealthiest 1% of humanity is responsible for more carbon emissions than the poorest 66%. At the same time, impoverished and vulnerable communities disproportionately bear the effects of climate change. The report was described as the most comprehensive study of global climate inequality.

Whose responsibility is it to stop climate change? ›

Some ethicists go further, and argue that only governments have a responsibility to fight climate change, and that individuals should feel no obligation to curb their emissions beyond the burdens that governments impose on them.

Will richer countries pay for climate change? ›

Rich industrialised countries responsible for excessive levels of greenhouse gas emissions could be liable to pay $170tn in climate reparations by 2050 to ensure targets to curtail climate breakdown are met, a new study calculates.

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