MORE Statement on New Study Showing Peabody Energy Responsible for 0.86% of Carbon Emissions
A new study released yesterday in the Guardian has found that 90 companies are responsible for two-thirds of greenhouse gas emissions since the industrial age. The study, done by Richard Heede at the Carbon Accountability Institute in Colorado, puts significant emphasis on the role of investor-owned, state-owned and government-run companies in causing the climate crisis. According to the study, Peabody Energy, the world’s largest private sector coal company headquartered in downtown St. Louis, has caused 0.86% of global greenhouse gas emissions. Peabody is the highest-ranking investor-owned coal producer on the list. Arch Coal, also headquartered in St. Louis, has caused 0.41% of global greenhouse gas emissions. These numbers do not include the amount of fossil fuel reserves that companies including Peabody and Arch are sitting on and hoping to burn.
In response, Zach Chasnoff with Missourians Organizing for Reform and Empowerment (MORE) released the following statement:
This study is an important step in recognizing just who is to blame for the climate crisis - Peabody and Arch and their CEOs Greg Boyce and John Eaves. It is time that these CEOs not only stop their dangerous business of causing climate change but also get serious about the reparations they must pay. In the aftermath of the supertyphoon in the Philippines, we call on CEO Greg Boyce to give 0.86% of Peabody’s revenue to relief efforts - equal to Peabody’s role in causing the climate crisis.
Individuals in our city are responsible for 1.27% of global carbon emissions, while the region’s population is only 0.04% of global population. Clearly, these individuals have a vastly disproportionate impact on the world than our city’s size. It is disgraceful that Peabody is commended by our city government, the United Way and Washington University when Peabody is responsible for hurricanes, droughts, heatwaves and all the human suffering that goes along with the climate crisis. As citizens in St. Louis, we must urge them to stop mining coal immediately. On April 8, 2014, city residents will get to vote on the Take Back St. Louis ballot initiative to ensure that the city of St. Louis never subsidizes Peabody’s coal mining again.