Quantifying the Economic Cost of Climate Change: The Business and Policy Case for Environmental Equity

The environmental justice movement emerged in the second half of the 20th century, linking various environmental movement issues to social justice for minorities. The need for environmental equity has become politicized, particularly for marginalized populations who lack both the political power to address these issues and the wealth to move away from environmental hazards. These grassroots movements have been targeting governments for their lack of commitment to protect social and racial minorities from such harm. Climate change has accentuated these risks, as environmental disasters are becoming more costly and often targeting weaker populations. At the same time, the need for more environmental justice has started to permeate the private sector, with corporate social responsibility as a means of these new trends. While they can enforce such economic policies on their own or be forced by the countries in which they are located, companies recently became another critical actor in the environmental justice ecosystem.