IHS Chemical Week

People & Business :: Corporate Social Responsibility

World's Largest Firms Causing $2.2 Trillion/Year in Damage

1:51 AM MST | February 23, 2010 | Alex Scott

Preliminary findings of a report commissioned by the United Nations have identified that the world’s 3,000 largest companies in 2008 caused loss and damage to the environment totaling $2.2 trillion. The cost is the equivalent to about one-third of the profits or 6-7% of sales of the 3,000 firms, states Trucost (London), an environmental consulting firm, and the study’s author. A final version of the study is due to be published in the summer.   “Externalities of this scale and nature pose a major risk to the global economy and markets are...

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