Coca-Cola reflects on economic self-interest and climate change

Coca-Cola and other industries are having a bit of a reality check.

Companies like Coca-Cola have always been focused on their profits more than on global warming. Recent damage due to climate change, like droughts, are hurting their production and causing them to shift their attitudes toward global warming. Nike has similar issues with lack of water hurting cotton production. 

Longstanding arguments that policies to curb carbon emissions are more economically harmful than the impact from climate change by the coal industry, are going at striking odds with companies like Coca-Cola and Nike.

Their position is changing from the longstanding argument that the coal industry holds. The impact global droughts has had on production resulted in prices of their products to increase. Polices increasing the cost of carbon and electricity according to the New York Times article, are also a contribution in the prices of products to increase. The World Economic Forum, where corporate politicians and leaders gather, set aside an entire day to talk about the threat of climate change. Instead of stressing the need to save polar bears, the discussion was focused on promoting economic self-interest. At least they are taking action, right?

Image source: Jeff Roffman Photography. http://www.coca-colacompany.com/stories/coca-cola-arctic-home-cans-roll-off-the-factory-line#TCCC

So even though Nike and Coke are responding for personal economic reasons, the point is, Coke is now using water conservation techniques and Nike is using synthetic material that is less dependent on weather conditions.

These ideas are hard to sell to countries like India and China, where coal-powered energy is lifting their economies and reducing poverty.

To read more, click on the link above from The New York Times, written by Coral Davenport.