Bagaimana sistem membayar CEO kacau-up kami membuat lebih buruk perubahan iklim

How our screwed-up CEO pay system makes climate change worse | GristnnRunaway CEO spend at the 30 largest U.S. public fossil fuel corporations returns short-term actions, along with disastrous results for that world's climate, a manufacturer new document finds.nnCEOs at huge oil, gas, along with coal corporations are rewarded for a short-term fixation on pumping up quarterly share prices. These People obtain spend perks for expanding carbon reserves along with creating unnecessary fossil fuel infrastructure. share prices could obtain a temporary boost from corporate lobbying to be able to maintain government subsidies as well as block renewable power initiatives, along with through campaign donations that assist elect climate deniers to Congress.nnIn 2014, the average CEO spend bundle at the 30 biggest oil, gas, and coal companies had been $14.7 million, 9 % greater than typical CEO pay around the S&P 500. These kind of spend styles are generally documented in "Money in order to Burn: How CEO pay is Accelerating Climate Change," any report I coauthored for that Institute with regard to Policy Studies.nnThe highest-paid fossil gasoline CEO can be ExxonMobil's Rex Tillerson, which hauled inside $33 million throughout 2014, boosting his total compensation more than the past 5 years for you to $165 million. ConocoPhillips, your largest holder regarding land and also resource positions in the Alberta tar sands, paid CEO Ryan Lance greater than $27 million in 2014, an 18 percent spend increase over 2013. Chevron CEO John Watson is the third-highest paid out using a $26 million paycheck inside 2014.nnThe full brunt in the climate catastrophe may happen right after these CEOs have cashed within their stock dividends as well as deferred compensation.nnOver the past 5 years, the 30 largest U.S. publicly held fossil gasoline companies doled out compensation really worth practically $6 billion to be able to 163 CEOs along with top managers. This kind of payout is actually comparable to the $6.6 billion that will private corporations expended globally on renewable power R&D throughout 2014. Such resources, directed to end up being able to green energy infrastructure, could generate nearly 100,000 new jobs, according for the IPS report.nnThe CEO pay system in major U.S. corporations continues to be below fire for decades. Analysis features documented how excessive CEO spend encourages short-term actions to become able to boost immediate share prices, including cooking the actual books, slashing workers, as well as failing to produce investments to become able to place any organization regarding economic well being over the lengthy term. Within the situation of huge fossil fuel companies, this provides horrific outcomes for the climate.nnThese 30 fossil fuel corporations tend to be leaders in an sector that is spending greater than $600 billion per yr in order to locate further fossil fuel reserves. Climate scientists debate that burning greater than 20 % involving present fossil fuel reserves will elevate the earth's temperature by simply greater than 2 degrees Celsius, leading to catastrophic climate change. Thus deploying resources to identify new carbon reserves is reckless and also irrational -- except in the perverse incentive system at work for probably your most part energy giants. The Actual 13 biggest oil companies tie executive bonuses to achieving positive "reserves replacement," ensuring that new carbon reserves replace these already extracted as well as burned.nnPerverse pay incentives encourage big oil, gas, and also coal companies to build billions of dollars regarding unnecessary fossil gas infrastructure so as to always be able to boost short-term profit horizons. These kind of CEOs are generally rewarded for first time pipelines and drilling platforms in which lock us in to non-renewable fuels in a moment when our nation should be shifting investment into conservation along with renewable energy.nnGregory Ebel, CEO with the Texas-based Spectra energy Corporation, ended up being paid out $10.3 million inside 2014. Spectra can be constructing countless fuel pipeline tasks around the U.S. that, if we take climate alter seriously, will possibly be obsolete inside a decade. the primary purpose of those tasks can be not to meet nearby gas needs, nevertheless to goose short-term income through relocating fracked fuel for you to coastal terminals and also global export markets as quickly as possible. While a result, hundreds of communities are generally having unnecessary gas pipeline tasks rammed by means of them, escalating power costs as well as exposing neighborhoods to end up being able to unnecessary health and safety risks.nnBig Fossil Gas in addition uses its considerable lobbying clout as well as campaign cash for you to advance a new short-term political agenda. This specific includes lobbying Congress to become able to protect an estimated $37.5 billion throughout annual subsidies and also tax breaks for that fossil gasoline sector. in 2014, the really best 30 fossil gasoline corporations contributed $4.4 million to congressional candidates whom had both denied climate change science or expressed skepticism with regards to it.nnCorporate boards and also shareholders could shift the actual incentives to end up being able to prize long-term viability. CEOs could be rewarded certainly not to find new reserves, but in addition for lowering carbon emissions. they might be encouraged to diversify energy sources along with move towards renewables. Their Own deferred compensation might be tied for you to company health over any longer time horizon when compared with a pair of or even three years. This particular would require challenging imperial corporate management. over the final 25 years, ExxonMobil shareholders have launched 62 shareholder resolutions about climate change to become able to shift business practices. Management provides opposed each along with every one.nnIn the particular end, big fossil gas will simply reply in order to external incentives for you to shift his or her investment, such as carbon taxation and also emissions regulation. Nevertheless within the meantime, your campaign in order to divest coming from oil, coal, and fuel (and invest in wind as well as solar energy) can easily weaken your political clout and legitimacy in the fossil gas sector.nn---nnChuck Collins can become a senior scholar in the Institute with regard to Policy Scientific studies and also coauthor of the report "Money for you to Burn." He is founding co-chair involving DivestInvest.org.n

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