Amid warnings of "global economic collapse" if oil and gas habits are not drastically altered, the Worldwatch Institute's 2008 "State of the World" report contains kudos for the global economy, highlighting a change in our business practices:
The impact of this financial shift has yet to demonstrate a positive impact on the global environment, they say, since aggregate trends indicate that the global economy continues to rapidly destroy its own ecological resource base.
"Once regarded as irrelevant to economic activity, environmental problems are drastically rewriting the rules for business, investors, and consumers, affecting over £50bn in annual capital flows"Main financial recipients included "clean energy projects, carbon trading and environmental and energy hedge funds."
The impact of this financial shift has yet to demonstrate a positive impact on the global environment, they say, since aggregate trends indicate that the global economy continues to rapidly destroy its own ecological resource base.
Labels: global warming, globalization
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