The nation’s capital took another step toward nation-leading climate action today, as the District of Columbia Council unanimously approved legislation, B21-650, to expand DC’s renewable energy target to 50 percent by 2032.
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The editorial board of the Financial Times isn’t exactly stacked with bleeding-hearted environmentalists. Just a month ago, the British paper defended ExxonMobil’s right to question climate change amid legal probes into whether the oil giant covered up evidence of global warming.
“The truth is that our current system allows pretty much every corporation to externalize both environmental and social costs. In this article, we won’t even be touching on social costs. If you don’t know what cost externalization is, you can imagine it as making someone else pay part or all of your costs. For example, BP externalized the environmental costs of the Deepwater Horizon disaster by consuming all of the profits but making the government pay for anything beyond the most shoddy and superficial attempts at stopping the crisis.