The recent devastation caused by hurricane Milton is a stark reminder of the escalating costs of climate change.
Early estimates place the financial damage from the hurricane higher than the combined profits of seven oil giants – Shell, BP, Total, ENI, Exxon, Chevron, and ConocoPhillips – who collectively earned $32 billion in the second quarter of this year alone. President Biden has stated that hurricane Milton has inflicted a staggering $50 billion in damages.
Scientific evidence strongly suggests that climate change is making hurricanes like Milton more intense and destructive.
The devastation caused by Milton highlights a critical issue: the companies that profit most from fossil fuels are also major contributors to the climate crisis, and the costs of that crisis are rapidly outpacing their gains. It’s a stark illustration of the financial risks associated with climate change.
Follow This urges investors to recognize this reality and act as responsible stewards of our planet. By actively voting for change at Big Oil’s shareholder meetings, investors can apply significant pressure for a transition towards a sustainable future.
The time for complacency is over. Climate change is not just an environmental crisis; it’s a profound threat to our economic stability. Climate action is vital for environmental and financial well-being.
