Business tapped out of the climate fight. Here’s how to get back in

illuminem summarizes for you the essential news of the day. Read the full piece on Harvard Business Review or enjoy below:

🗞️ Driving the news: Businesses have the potential to be pivotal allies in combating climate change but are currently hampered by an over-reliance on voluntary sustainability efforts and free-market ideologies
• Fossil fuel companies have leveraged PR, lobbying, and misinformation to block meaningful climate action for decades
• For businesses to re-engage effectively, they must support systemic changes, including robust climate regulations

🔭 The context: While many companies promote sustainability initiatives, these voluntary measures often fall short of the impact required to meet global climate goals
• Fossil fuel interests have maintained dominance through political donations, regulatory influence, and public relations strategies that obscure their role in driving emissions
• Systemic change requires businesses to shift from self-regulation to advocating for enforceable climate policies

🌍 Why it matters for the planet: The business sector’s passivity undermines progress toward decarbonization and risks exacerbating the climate crisis
• Strong corporate support for regulation could accelerate emissions reductions and enable the widespread adoption of clean technologies
• Addressing the influence of fossil fuel interests is critical for a just and effective transition to net zero

⏭️ What's next: Businesses must align their strategies with bold climate advocacy, pushing for transparent policies and accountability measures
• This includes supporting regulations that level the playing field and penalize emissions-heavy practices
• A coordinated effort across industries could redefine the role of corporations in the climate fight

💬 One quote: “To truly address climate change, businesses must transition from voluntary action to supporting systemic regulation,” argues Auden Schendler

📈 One stat: The fossil fuel industry has spent billions on lobbying and PR campaigns over the last 30 years to influence climate policy and public perception

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