How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (2024)

How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (1)Climate change (really global warming with a better brand name) has been in the news these past few decades with dire warnings. Climate models have underestimated the warming trend.

The old story of the frog tossed into boiling water and immediately jumping out comes to mind. With climate change the warming is so gradual (and sometimes welcome) we don’t notice we are getting boiled. Yet the temperature inexorably continues to climb. Like the frog, we will stay in the stew until the meat pulls away from the bone.

Fresh faces periodically jump onto the scene. Al Gore made a big splash over a decade ago with his Inconvenient Truth documentary.

This past week a new face entered the drama with Greta Thunberg scolding Congress. After delivering a groin kick to deserving members of Congress she met with allies in Congress and told them, ” I know you’re trying, but just not hard enough.”

As much fun as it is to watch a 16 year old girl knock Congressmen around, the most important point has been missed: Greta “is” the problem.

Same Old Tactics

“The world is coming to and end!” It has been the battle cry of environmentalists from the beginning. Scare tactics worked when pushed hard enough and often enough in the past. Now, after hearing this battle cry for longer than most readers have been alive the echo rings hollow.

Climate change is a money issue. Those against taking action do so on financial grounds. “It will cost too much for something we are not sure will really happen and even if it does it might actually be a good thing,” is their battle cry. And it is easier (and cheaper in the short run) to do nothing.

Then we come to Gore and Thunberg. Remember I said they ARE the problem.

All the while I watched and read about the smack down in Congress I couldn’t help but think about how much CO2 Thunberg dumped into the atmosphere flying* to Washington to give Congress a piece of her mind. Thunberg is right; she needs to try harder.

If the people most concerned about climate change are injecting the most most amount of greenhouse gases into the atmosphere, is there any hope to solve the problem?

Actually, there is.

Re-framing the Argument

Fear stalls people in their tracks. This accountant has strong beliefs about climate change and prefers to call it what it really is: global warming. Gore showing charts of CO2 rocking to the moon did little to move the deniers. It’s not that climate deniers believe climate change is a hoax; it’s that they believe it isn’t a serious problem compared to the costs of mitigation. A warmer winter is welcome in their minds and the negative consequences will not affect them (in their minds).

Continuing to bash on deniers will not work! I’m sympathetic to the cause and know the problem is serious and needs immediate attention. And even I am exhausted by the constant assault by climate doomsayers.If it is so bad and their is no hope, why bother.

There is a solution, but it requires a radical rethinking of the climate change rhetoric.

Cutting greenhouse gas emissions is a good goal that can satisfy climate change crusaders while appealing to the pocketbook of the deniers. In other words, if we reframe the issue as a win/win the message will resonate with virtually everyone. The best part is nobody even has to mention that four-letter word: climate change or global warming.

Solutions that Work

Every time a new solar or wind project is proposed it lists the amount of CO2 that will not be emitted into atmosphere. That is a massive mistake!

Green projects have to be proposed with economics in mind.

This wind farm will drive down costs to local businesses, increasing the competitive advantage of our community in the world market.

How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (2)Who is against that? No mention of climate change. Politics is removed. To be against this is to be against jobs and local economic growth. Not one mention is made about climate change.

A local town hall meeting might sound like this:

CROWD: Is this wind farm going to help climate change?

PROMOTER: Screw the climate. We are about business and economic growth. This will create jobs and increase business profits. Our cost advantages after this project comes online will make us a world leader in multiple industries.

The Republicans will snicker after the event about how they pulled a fast one over on the Democrats. Citizens concerned about climate change will have a similar, yet opposite, conversation in private.

Everyone wins!

Your favorite accountant is sick to death of good ideas getting shot down because climate change was attached to it. Want to kill a good idea? Say is will lower CO2 emissions. Doesn’t matter how good the idea is. Could you imagine tax cuts associated with reduced greenhouse gas emissions? You’d never see another tax cut in your lifetime.

Businesses understand this. Doing environmental good CAN and frequently IS good for the environment. Both sides of the debate are really in the same room, only they got comfortable bashing each other’s faces in and don’t know how to change their behavior.

It is self-defeating to frame trillions of dollars in spending as a climate change expense. Even those who know the problem is real have a hard time wrapping their head around seriously higher taxes to pay for something that will help other nations and people of the future. The “What’s in it for me” thought is strong. It is unfair to complain some are shortsighted on this issue. We all are to some extent.

Solutions where many will lose (taxpayers and business owners) will always have a problem getting their message across.

Changing the Way We Think

Business owners understand the power of changing the way they think in problem resolution. Individuals need to do the same.

Buying an electric car is NOT about saving the environment! It might be a status symbol. But in the end it should make economic sense. If the cost of owning the electric car is less over its entire life than an internal combustion engine (ICE) vehicle it is a logical choice even if the up front costs are higher.

The opposite is also true. There will always be a limited number of people willing to shell out for an expensive car that costs more than similar ICE alternatives. This limited demand will not be enough to reverse the global warming trend.

It smacks me as insane when some lowlifes rejig their truck to belch more smoke or keys an electric car when walking past. The smoke is a different kind of pollution and actually is better for the environment since it settles out of the air reasonable fast. (Think of that if you rigged your truck this way. You actually are saying you are trying to help reduce climate change emissions. Makes you look foolish, doesn’t it?) And keying someone’s car is not only stupid, but ignorant. You are better than that.

Current thinking is politically charged. Greta Thunberg made a splash in the news. Yeah, she got a good one on Congress. And nothing will change. You don’t make friends or solve problems by finding new ways to insult people you need to help you solve a problem.

Instead of focusing on what is in it for us, we need to highlight the advantages to our opponents.

Electric vehicles will give America a competitive advantage.

Changing the electric grid will create jobs.

Businesses will generate an estimates $868 billion (this number is illustration only, not a fact) in additional profits if electric vehicles are fully implemented.

This solar field will reduce reliance on foreign oil, create 328 new jobs, lower utility bills for businesses and consumers and lower taxes over the next decade.

Of course the losers haven’t changed. Big oil is behind the fight against climate change initiatives for good reason; they stand to lose a lot. I don’t like leaving businesses or people behind even if they were part of the original problem. Remember, oil was a solution to a problem a century ago.

The synergies created by good economic policies can be used to create incentives for businesses and individuals negatively affected by the changes.

How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (3)Big oil should receive serious tax credits when pushing into these new areas of business. The transition will be painful, but manageable if proper consideration is given.

Self driving trucks will not need to convince business of the value. Trucks able to run 24 hours a day without payroll expenses is all business will need to hear. Once self driving vehicles are safe enough they will happen. Just as climate change causes issues so will self driving vehicles.

Every problem has a solution that eventually leads to more problems. As long as the improvement overall is steady we are golden. Truckers losing their job will need tax incentives to get them from where they are to where they want to be in a world with out truckers.

Gas stations will always have a place as long as people are on the road. Electric vehicles and people still need to fuel up. Gas stations will need help with the expensive conversion to electric charging stations.

These are not insurmountable problems! We HAVE solved much worse than this. Climate change is real. Unfortunately we are the frog in the water getting cooked at a slow simmer.

Finger pointing is wrong. It never works. You never convince someone of your viewpoint by starting with, “You’re an idiot!”

We must reframe the way we look at climate change. We must change the way we think. This is not us versus them!

Change can be good. And profitable! If only we have the will. Otherwise another kid with a cute message will get a good jab in on Congress thirty years from now when the problem is still unresolved and much worse.

* Some comments argue this statement isn’t fair since she used a “zero emissions” boat to get here. No word on how she gets home after her 5-man team brings the boat back without her. Many reports and newscasts have stated the large carbon footprint of her journey. Thunberg has a 5 man team delivering the yacht back home and some of them presumable flew. At this point we still do not know with certainty if she will fly home or use another source. What is certain is the greenhouse gases emitted from this publicity stunt is reported to be greater than the emissions from a village in India over the course of a year. I stand by my claim.

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How We Are Addressing Climate Change All Wrong - The Wealthy Accountant (2024)

FAQs

How can we address the problem of climate change effectively? ›

What are the solutions to climate change?
  1. Keep fossil fuels in the ground. ...
  2. Invest in renewable energy. ...
  3. Switch to sustainable transport. ...
  4. Help us keep our homes cosy. ...
  5. Improve farming and encourage vegan diets. ...
  6. Restore nature to absorb more carbon. ...
  7. Protect forests like the Amazon. ...
  8. Protect the oceans.

How accountants can help climate change? ›

They have the potential to drive meaningful change and create a sustainable future for all by embracing transparency, adopting new accounting standards that consider environmental and social impacts, and holding powerful financial interests accountable for their actions.

Are the rich more responsible for environmental damage than the poor do you agree? ›

The richest 1% of humanity is responsible for more carbon emissions than the poorest 66%, with dire consequences for vulnerable communities and global efforts to tackle the climate emergency, a report says.

How can people help address the issue of climate change? ›

Save energy at home

Much of our electricity and heat are powered by coal, oil and gas. Use less energy by reducing your heating and cooling use, switching to LED light bulbs and energy-efficient electric appliances, washing your laundry with cold water, or hanging things to dry instead of using a dryer.

How can we solve the problem of climate change essay? ›

How To Prevent Climate Change Essay
  1. Make policies and agreements on climate change.
  2. Implement projects on clean energy.
  3. Create social awareness on climate change.
  4. Prohibit deforestation and cutting down trees.
  5. Conduct capacity building programs on climate change.
  6. Keep the surroundings clean.

What are five solutions to global warming? ›

10 Ways to Stop Global Warming
  • Change a light. Replacing one regular light bulb with a compact fluorescent light bulb will save 150 pounds of carbon dioxide a year.
  • Drive less. ...
  • Recycle more. ...
  • Check your tires. ...
  • Use less hot water. ...
  • Avoid products with a lot of packaging. ...
  • Adjust your thermostat. ...
  • Plant a tree.

How can accountants contribute to sustainable environment? ›

Link the strategy and resources to the creation of value for stakeholders. Drive efficiency by reducing waste and controlling costs. Provide credibility to the information and data produce through effective oversight and governance. Communicate clearly to ensure transparency.

What is the role of accountants in promoting sustainability? ›

Accountants have a significant role to play in corporate sustainability auditing, measuring and reporting. They can ensure that reporting is accurate, uniform, transparent, and takes full account of environmental risks.

How can an accountant contribute to the society? ›

Here are some key reasons why accountants are important in the society: Financial Decision Making: Accountants help individuals and businesses make informed financial decisions. They analyze financial data, prepare reports, and provide insights that assist in determining the financial health of an organization.

How rich people are responsible for climate change? ›

Wealthy individuals often have significant investments in industries that are carbon-intensive, such as fossil fuels, manufacturing, and construction. These investments not only generate considerable personal wealth but also contribute indirectly to global emissions.

Do the rich cause climate change? ›

Carbon emissions of richest 1% surged to 16% of world's total CO2 emissions in 2019. Their carbon emissions are enough to cause 1.3 million excess deaths due to heat. Fairly taxing the super-rich would help curb both climate change and inequality.

Who is healthier the rich or the poor? ›

Middle-class Americans are healthier than those living in or near poverty, but they are less healthy than the upper class. Even wealthy Americans are less healthy than those Americans with higher incomes. Income is a driving force behind the striking health disparities that many minorities experience.

What are 10 ways to stop climate change? ›

Top 10 things you can do about climate change
  • Urge government to take bold, ambitious climate action now. ...
  • Use energy wisely — and save money. ...
  • Green your commute. ...
  • Consume less, waste less, enjoy life more. ...
  • Support Indigenous-led climate action. ...
  • Invest in renewables and divest from fossil fuels. ...
  • Eat for a climate-stable planet.

What are the five main effects of climate change? ›

Effects of Climate Change
  • Hotter temperatures. As greenhouse gas concentrations rise, so does the global surface temperature. ...
  • More severe storms. ...
  • Increased drought. ...
  • A warming, rising ocean. ...
  • Loss of species. ...
  • Not enough food. ...
  • More health risks. ...
  • Poverty and displacement.

Can we slow or even reverse global warming? ›

While the effects of human activities on Earth's climate to date are irreversible on the timescale of humans alive today, every little bit of avoided future temperature increases results in less warming that would otherwise persist for essentially forever.

How to address climate change as a student? ›

1. Conserve energy in your everyday life.
  1. Turn off the lights.
  2. Close doors immediately so heat does not escape.
  3. Take short showers.
  4. Walk or bike if you can (instead of having your parents drive you).
  5. Turn off your computer when not in use (don't leave it on just to keep Facebook or Myspace active).

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