Tuesday, January 14, 2020

Business As Usual

Siemens has decided to put profits ahead of the environment. 

Siemens has made its decision to provide infrastructure for the huge Carmichael coal mine in the Australian state of Queensland.  The division has signed a contract with Indian mining giant Adani to build a signaling system for the rail connection between its Carmichael coal mine in Queensland, Australia, and a terminal for shipping the coal abroad. A major point criticism of the project is the terminal in eastern Australia, which the activists claim will threaten the coral habitat of Australia's Great Barrier Reef. More general concern comes with the use of coal as such — a commodity which is in the firing line for its huge carbon emissions.

The contract may be worth €18 million ($20 million) 

Despite various efforts, humanity is now pumping more CO2 into the atmosphere than ever before. One reason is that governments do not do enough to keep companies in line, for fear that national economies will suffer. They do not give them sufficient incentive to introduce effective measures that are more than simply image-related. The pursuit of profits takes precedence over protecting the environment.
The likes of BlackRock, Vanguard, Goldman Sachs and others, so far,  show little enthusiasm for protecting the climate.

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