Fat cat pay at fossil fuel companies drives climate crisis – report

(guardian-, 2 Sep 2015) Huge CEO salaries at US firms incentivise expanding carbon reserves but not moves towards clean energy, says thinktank.

Executive pay at fossil fuel companies rewards corporate behavior that deepens the climate crisis , and offers no incentive to shift towards renewable energy, a Washington thinktank said on Wednesday.

Executives at the 30 biggest publicly held coal, oil and gas companies in the US were paid more than leaders of other major corporations, about 9% higher than the S&P 500 average, the Institute for Policy Studies (IPS) found.

The big pay days extended across the industry to executives of coal companies whose share prices have gone into free fall last year.

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guardian-, 2 Sep 2015: Fat cat pay at fossil fuel companies drives climate crisis – report