Finance Media Monitor | 8.25.23



Polluting companies would face a hefty price tag if they actually had to pay for their climate damage. The cost of emitted carbon pollution would eat up 44% of profits for the nearly 15,000 companies, with 90% of the calculated damage coming from the energy, utilities, transportation, and manufacturing sectors, according to the study. Despite the exorbitant socialized costs, governments continue to subsidize the fossil fuel industry at alarming rates. According to a recent analysis by the International Monetary Fund, these subsidies amounted to a staggering $7 trillion in 2022 alone ($23,373 billion in the US). This means $13 million flows from the public into the fossil fuel industry every single minute. While public funds aid climate destruction, Big Oil companies rake in record profits





  • Emily Atkin shared an article: Since everyone is talking about Vivek and his climate “hoax” comments today, let me provide some background: Vivek is currently a leader of the anti-ESG movement —  a movement started by some of the fossil fuel industry’s most notorious climate deniers.
  • Will Hild shared an article: 🚨@DukeEnergy is putting their ESG To-Do List ahead of providing reliable, affordable energy for American families. Yet states continue to grant them monopoly power — leaving consumers with no choice but to pay more…It’s not right. Learn more at:
  • Bailoutwatch quoted a tweet: $23,373 BILLION dollars in the US went to subsidizing fossil fuels last year alone… How would you prefer that money were spent?


  • August 24-26: The Federal Reserve Bank of Kansas City 2023 Economic Policy Symposium “Structural Shifts in the Global Economy.” 
  • September 17-24: Climate Group Climate Week NYC. View list of events here
  • September 19: Sustainable Investment Forum North America. Register here
  • September 20: UN Climate Ambition Summit.