Karma Is About To Slap Climate Destruction Profiteers In The Face
$554 billion worth of environmentally destructive investments are set to become worthless.
For decades, a select few have greatly benefited from the destruction of the planet. Their oil-driven businesses and investments paid out billions of dollars, while the pollution, destruction and climate mayhem they caused went unpunished. For years, it seemed like this myopic greed and disregard for planetary health would be unstoppable and propel us into a climate apocalypse. But it appears that the Vedic notion of Karma still holds merit, as these profiteers are now set to lose billions of dollars and, possibly, their way of life. But how?
This climate karma is most apparent in a recent report on the steel industry. You see, the steel industry is responsible for around 5% of CO2 emissions in the EU and 7% worldwide. This puts it firmly in the sights of governments looking to cut back their emissions to meet climate targets. As such, the steel industry is under massive pressure to shift away from coal furnace technology to far cleaner Electric Arc Furnace (EAF) technology over the next 5 to 10 years.
Currently, only 30% of steel is produced with EAF technology. By 2050, this proportion needs to rise to 53% in order to meet emissions…
