Capitalism and the planet

Sometimes capitalism gets a lot a bad press. There are lots of examples of companies that clear cut forests, contaminate rivers & lakes, and pollute the air & ground with no regards for anything but the bottom line.

However, sometimes pure capitalism works out favorably for the environment. Here is a great example. Several very large companies in Europe are about to invest $500
billion (with a B) into solar power for Europe. One of the major stakeholders in this project is an insurance giant Munich-Re. From the article:

"Munich-Re is the insurance firm that pays back insurance companies
when they are wiped out by the ever increasing numbers of natural
disasters fueled by climate change. So Munich Re’s bottom line is
already impacted by climate change losses. As a result it has been far
more forward-thinking than other major corporations who have yet to
see bottom line impact from climate change. Munich Re has been ahead
of other firms in publicizing the dangers of climate change risks to
coastlines and property values."

The article is here.

Climate change is actually affecting Munich-Re's bottom line, so it's in their best interest to fight it. Pretty neat eh? Go capitalism.