September 19, 2024
As the 29th Conference of the Parties (COP) approaches, it’s time to stop messing around and, finally, stop corporations from emitting huge quantities of greenhouse gases (GHGs) that cause climate change. There are only a small number of them (less than 500 in the entire world). Yet, for more than three decades, they and the petrostates have been able to forestall legislation to make the emissions stop. During that time, the problem has only grown more dire and the consequences of not stopping more clear.
Now there is evidence that the vast majority of people want the emissions stopped. Across 22 countries[i] surveyed (including 17 of the 18 countries in the G20), 72% of people support making it a criminal offence for leaders of large businesses to permit actions which they know are likely to cause damage to nature and climate that is widespread, long term and cannot be reversed. See. https://earth4all.life/news/causing-environmental-damage-should-be-a-criminal-offence-say-72-of-people-in-g20-countries-surveyed/?utm_source=Earth4All&utm_campaign=f7613de68a-EMAIL_CAMPAIGN_2024_September&utm_medium=email&utm_term=0_-66b60eb25d-%5BLIST_EMAIL_ID%5D.
Speaking as a corporate lawyer of more than 40 years, there will be difficulties trying to criminalize this behaviour. However, that's not necessary to put a big dent in GHG emissions. Most can be stopped by simply adding the following words to the existing law which imposes a duty on directors to act in their company's best interests: BUT NOT AT THE EXPENSE OF SEVERE DAMAGE TO THE ENVIRONMENT.
If almost 3 in 4 people feel that corporate profit should not come at the expense of serious damage to the environment, then why does the corporate law duty of directors in each of these countries encourage the opposite?
That law is the same everywhere. The eleven word addition (the Code for Corporate Citizenship, the “Code”) is a one size fits all solution whose time has come. The technology is there to transition to renewables. Even the big emitters realize the time for business models dependent upon the burning of fossil fuels is running out.
Environmental NGOs, organized religions and large civic clubs and organizations should band together to get behind the Code and expedite the transition. Before you make your next contribution to one of them, ask if it supports the enactment of the Code into law and if not, why not. The support of enough people is now there to make the change. There’s simply no excuse not to.
[i] Survey conducted by Ipsos UK and commissioned by Earth4Life and The Global Commons Alliance. Argentina (85%), Australia (68%), Austria (72%), Brazil (83%), Canada (72%), China (72%), Denmark (75%), France (70%), Germany (68%), India (79%), Indonesia (82%), Italy (67%), Japan (43%), Kenya (91%), Mexico (85%), Saudi Arabia (57%), South Africa (85%), South Korea (61%), Sweden (71%), Turkey (76%), United Kingdom (78%), United States (68%). Including all of the G20 Countries except Russia. Percentage of respondents either strongly or tending to agree in parentheses. Overall percentage 72%.
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