NASA and NOAA find 2022 was one of the hottest years on record
NBCAPR 2023
The investment of private finance in sustainability should not be understated — the private sector is increasingly taking on the responsibility of carbon neutralization where the state is failing to act. As of 2020, almost 1.5K companies with revenues in excess of $20.5T had made quantifiable commitments to reduce polluting emissions. Fossil fuels were once key to economic and industrial development for many nations but, now that the environmental cost of fossil fuel drilling and export outweighs the financial interest, green investment has become the mainstream in global business.
Private investment in sustainable business processes has rapidly increased in recent years, but it is still nowhere near the scale required to protect the future of the planet. The coming green rush does not mean companies are turning their backs on profitable fossil fuels — government intervention must go further to compel companies to significantly reduce emissions and speed up the implementation of sustainable business models.