Thursday, 7 September 2023

Now That's What I Call a Growth Industry!

The Private Equity Stakeholder Project and Resilience Force have produced a report on the cleaning up of US climate disasters. They've found that it's boom time for private equity firms. These firms routinely provide inadequate protective gear to the 'resilience workers' (generally immigrants) 'employed' to do this, often dangerous, work. The private equity firms then invest most of their profits into fossil fuels (https://www.theguardian.com/environment/2023/sep/07/private-equity-climate-crisis-disaster-cleanup). In essence, disasters mean profits: more profits mean bigger and better future environmental disasters. How's that for a business model?
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