Acton Institute Powerblog

The New (Green) Robber Barons

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What do you call titans of industry who influence governmental regulation to provide them with tax and subsidy incentives to make a business venture profitable?

They used to be called robber barons…now apparently they’re “eco-millionaires.” The NYT piece gives a brief overview of four such figures:

Bruce Khouri “did not found Solar Integrated until 2001 once tax and subsidy incentives made the market more attractive.”

Pedro Moura Costa says he “saw the carbon market could be big business and the Kyoto Protocol confirmed my views.”

According to David Scaysbrook, “tax breaks, subsidies and emissions caps had prompted even more conservative investors ‘to finally move off their perch.'”

And “Neil Eckert, chief executive of Climate Exchange, which runs the main European exchange for carbon trading, has shares worth about 18 million pounds ($36 million). He is also non-executive chairman of Trading Emissions and Econergy, both involved in emission-cutting projects and generating revenue from carbon credits.”

More here on how not only individual investors but also nations are cashing in on artificially-created carbon schemes.

Jordan J. Ballor Jordan J. Ballor (Dr. theol., University of Zurich; Ph.D., Calvin Theological Seminary) is a senior research fellow and director of publishing at the Acton Institute for the Study of Religion & Liberty. He is also a postdoctoral researcher in theology and economics at the VU University Amsterdam as part of the "What Good Markets Are Good For" project. He is author of Get Your Hands Dirty: Essays on Christian Social Thought (and Action) (Wipf & Stock, 2013), Covenant, Causality, and Law: A Study in the Theology of Wolfgang Musculus (Vandenhoeck & Ruprecht, 2012) and Ecumenical Babel: Confusing Economic Ideology and the Church's Social Witness (Christian's Library Press, 2010), as well as editor of numerous works, including Abraham Kuyper Collected Works in Public Theology. Jordan is also associate director of the Junius Institute for Digital Reformation Research at Calvin Theological Seminary.

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