Business is opposed to climate action, and because business is the backbone of the economy, any attempt to stop global warming would be bad for jobs and economy activity.
Fact:
Business was opposed to climate change not so many years ago, but this has changed of late. An increasing number of the leading corporations are now divesting from fossil fuels and/or supporting a move to net zero emissions by 2050. As of 2026, over 200 global financial institutions had announced plans to exit from coal. These include Mizuho (the world’s largest private financier of coal), the ING Group, BNP Paribas, Barclays Bank, Bank of America, Deutsche Bank, Citibank, Allianz, Goldman Sachs, JP Morgan and the Norwegian Government Pension Fund (the world’s largest sovereign wealth fund). Locally, the Business Council of Australia and the National Farmers Federation are calling for net zero by 2050, and support the Albanese government’s emissions reduction target.