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UN report reveals financial cost of environmental damage

In a report due for release in May, the United Nations uncovers that the largest 3,000 international companies cause an estimated $2.2 trillion in environmental damage per year.  More than half of that total is on account of greenhouse gas emissions.  The report is accompanied by growing concern over the lack of payment for use, loss, and damage to the environment.  The failure to include "ecosystem services" such as free clean air and erosion control in business models has led to the verge of a resource crisis.  The UN hopes to encourage companies to reduce their impacts before governments force them to do so through strict regulations, high taxes, or climate change litigation. Read more (Sustainable Life Media)

25 February 2010