The world's richest profit from climate disasters they help fuel The world's richest investors are making money twice from the climate crisis, first by backing polluting industries and then by investing in businesses that profit from the damage, according to a new Oxfam report. The NGO identified 217 corporations involved in polluting industries or disaster preparedness and recovery. Investment giants BlackRock and Vanguard own shares in 92% of these companies, with combined investments exceeding a trillion dollars. The business is only getting bigger, with the global disaster recovery market expected to grow from $70 billion to $92 billion annually by 2029. Meanwhile, the richest 0.1% of humanity produces more carbon emissions than the poorest 3.5 billion people combined, Oxfam estimates, while poorer populations bear much of the cost of floods, droughts and rising food prices. substack | talk.

The world's richest profit from climate disasters they help fuel The world's richest investors are making money twice from the climate crisis, first by backing polluting industries and then by investing in businesses that profit from the damage, according to a new Oxfam report. The NGO identified 217 corporations involved in polluting industries or disaster preparedness and recovery. Investment giants BlackRock and Vanguard own shares in 92% of these companies, with combined investments exceeding a trillion dollars. The business is only getting bigger, with the global disaster recovery market expected to grow from $70 billion to $92 billion annually by 2029. Meanwhile, the richest 0.1% of humanity produces more carbon emissions than the poorest 3.5 billion people combined, Oxfam estimates, while poorer populations bear much of the cost of floods, droughts and rising food prices. substack | talk.