A flagship report found that acting on climate change and improving the economy go hand in hand, which was reported by business media outlets across the globe. But three prominent outliers left their audiences in the dark: CNBC, Fox Business, and The Wall Street Journal.*
On September 16, many major business media outlets from Fortune Magazine to BusinessWeek reported on a recent analysis finding that the next 15 years are essential for acting on climate change, and that it is possible to do so while simultaneously growing the global economy. The report, titled "The New Climate Economy" and carried out by the Global Commission on the Economy and Climate, refutes the "false dilemma" between economic growth and climate change mitigation -- an important finding for businesses that want to thrive in the decades ahead. From Reuters:
Investments to help fight climate change can also spur economic growth, rather than slow it as widely feared, but time is running short for a trillion-dollar shift to transform cities and energy use, an international report said on Tuesday.
Yet the report was ignored by three prominent business media outlets -- a disservice to their business audiences who deserve to know the economic risks of global warming. The outlets that ignored the findings of the "New Climate Economy" report may not come as a surprise: CNBC, Fox Business, and The Wall Street Journal all have a sordid history with reporting on climate change.
When the "Risky Business" report was released earlier this year -- another report detailing the economic costs of climate change inaction -- CNBC was caught soliciting a writer to talk about "global warming being a hoax" to rebut the report's findings. The network's on-air coverage of "Risky Business" featured Squawk Box co-host Joe Kernen criticizing the acceptance of global warming as "Orwellian groupthink." Media Matters analyses found that CNBC misled their audience on global warming in the majority of their reporting on the topic in 2013.
Fox Business also regularly offers demonstrably false reporting on global warming. Co-hosts have often claimed that global warming is over, or even that we are in a period of global cooling. When the Risky Business report was released, Fox Business mocked its findings of heat-related mortalities and dismissed the report entirely as using "scare tactics."
Similarly, Wall Street Journal dismissed the findings of the Risky Business report, with its editorial board calling one of its authors' suggestions for a carbon tax as economically harmful as the 2008 financial crisis. The Journal has downplayed and dismissed the impacts of climate change and other environmental threats for decades, and gives a frequent platform to "skeptics" that urge inaction on climate change and dismiss the basic science behind the consensus.
The New Climate Economy was heralded by political leaders around the world advocating a transformation in the global economy. By ignoring it, these outlets are showing that their priorities are at odds with businesses that want to prosper in a changing climate.
*Based on a search of internal video archives from September 15 to 12 p.m. September 17 for "climate" for Fox Business and CNBC, and a Factiva search for "climate" for Wall Street Journal.
From the July 31 edition of Fox Business' Varney & Company:
Rep. Paul Ryan's poverty proposal, which would in part punish impoverished Americans for not getting themselves out of poverty on a specific timeline, is based on the conservative myth pushed by right-wing media that blames poverty on individuals' "spirit" and personal life choices. Experts say poverty is the result of systemic inequality and lack of opportunity.
Fox News often promotes myths about student loan debt in the United States, misinforming about everything from the lack of protections borrowers receive, to the unsubtantiated claim that student loans drive up college costs, to the myth that struggling borrowers are taking a government handout. As the two-year anniversary of student debt surpassing $1 trillion takes place this week, here is a sample of the network's past student loan misinformation.
Fox Business personalities seized on reports of an oil spill in the Gulf of Mexico to push for approval of Keystone XL, ignoring the fact that the pipeline could lead to increased risk of spills near the Gulf Coast.
On March 23, Reuters reported that cleanup crews had quarantined a portion of the heavily trafficked Houston Ship Channel in response to a significant oil spill. The spill, estimated to be roughly 4,000 barrels (or 168,000 gallons), began after a tanker vessel carrying heavy fuel oil collided with a cargo ship in Galveston Bay, an estuary connected to the Gulf of Mexico.
On the March 24 edition of Fox Business' Varney & Co., guest host Charles Payne and contributor Tracy Byrnes discussed the impact that the oil spill would have as "an impediment to growing out our fossil fuel industry" by providing ammunition for environmentalists. Byrnes then pivoted, claiming that the Galveston Bay oil spill was an example of why the Keystone XL oil pipeline project should be approved.
PAYNE: Anytime we hear these kind of things, it feels like another impediment to growing out our fossil fuel industry, another thing for environmentalists to rally around, although we know accidents are bound to happen.
BYRNES: You and Sandra [Smith] said it last hour, just do the Keystone Pipeline already, create all these jobs. Enough of the nonsense, these are all distractions, that's all they are.
Neither personality addressed the fact that the Keystone XL pipeline is specifically designed to transport heavy crude to refineries and export-bound oil tankers on the Gulf Coast, precisely the scenario that could lead to more spills like the one unfolding in Galveston Bay. The problem of increased water traffic is not unknown for oil sands pipelines. In December 2013, the Associated Press reported that a planned pipeline transporting Alberta oil sands to Vancouver, British Columbia would increase local tanker traffic "nearly sevenfold."
Furthermore, Payne and Byrnes' argument in favor of building the pipeline relied on debunked claims of job creation stemming from the Keystone XL project.
Fox News has shown before that it will use any and all opportunities to promote its fossil fuel agenda and the Keystone XL proposal. The network's latest advocacy for fossil fuels comes on the 25th anniversary of the Exxon Valdez oil spill, the most environmentally devastating oil tanker spill in American history.
Fox News hosts are attacking Apple for defending its green energy measures against right-wing activists. However, Apple is simply the latest business to realize the strategic value of sustainability -- a list that includes Fox's own parent company.
On Friday, the right-wing National Center for Public Policy Research urged Apple CEO Tim Cook at a shareholder meeting to pledge to end all environmental initiatives that didn't lead to a return on investment (ROI), complaining that Apple was concerned with the "chimera" of "so-called climate change." Cook responded that Apple's environmental efforts make economic sense, and that those who want Apple to blindly pursue profit regardless of societal impact should "[g]et out of this stock." Cook added, "When we work on making our devices accessible by the blind, I don't consider the bloody ROI."
Cook's righteous indignation didn't sit well with Fox News and its sister network Fox Business, which accused him of putting "politics before profits" and "ideology ahead of the shareholders." Fox News host Sean Hannity even announced that he's going to drop his stock after Cook's announcement.
Hannity's bizarro version of the fossil fuel divestment movement would have to extend to Fox News' parent company 21st Century Fox as well. Chairman Rupert Murdoch has trumpeted FOX's efforts to "become carbon neutral" and the corporation touts sustainability efforts at Fox News and Fox Business.
Sustainability is not only smart public relations, but also key in long-term planning for businesses according to business leaders such as McKinsey and Co. A recent report by the investor group Ceres found that clean energy investments must reach $1 trillion a year (a "Clean Trillion") in order to have an 80 percent chance of avoiding global warming of more than two degrees Celsius (3.6 degrees Fahrenheit) -- a measure deemed necessary by international governments at the Copenhagen climate conference to avoid the most catastrophic impacts of climate change. However, without greater commitments to addressing climate change, we face the potential of 4 degrees Celsius (7.2 degrees Fahrenheit) warming, which would severely disrupt global supply chains including food stocks. That is one reason why companies such as Apple are recognizing the risks climate change poses to their businesses and turning toward cleaner sources of energy.
This is not the first time Fox News has politicized voluntary corporate social responsibility measures. Earlier this month, Fox News criticized CVS for announcing it would stop selling cigarettes, asking if it was potentially illegal for the pharmacy chain to do so.
Conservative media are latching on to the climate change denial of Patrick Moore, who has masqueraded as a co-founder of Greenpeace. But Moore has been a spokesman for nuclear power and fossil fuel-intensive industries for more than 20 years, and his denial of climate change -- without any expertise in the matter -- is nothing new.
From the February 7 edition of Fox Business' Varney & Company:
Fox Business contributor Charles Payne argued that a businessman "may be a couple of years ahead of the curve" after he drew parallels between the treatment of the wealthy in America and "fascist Nazi Germany."
On January 24, The Wall Street Journal published a letter to the editor comparing the alleged "demonization of the rich" to the boiling over of European anti-Semitism that led to the Holocaust. The letter, written by billionaire venture capitalist Tom Perkins, questions whether a "Progressive Kristallnacht" looms on the horizon:
Progressive Kristallnacht Coming?
Regarding your editorial "Censors on Campus" (Jan. 18): Writing from the epicenter of progressive thought, San Francisco, I would call attention to the parallels of fascist Nazi Germany to its war on its "one percent," namely its Jews, to the progressive war on the American one percent, namely the "rich."
From the Occupy movement to the demonization of the rich embedded in virtually every word of our local newspaper, the San Francisco Chronicle, I perceive a rising tide of hatred of the successful one percent. There is outraged public reaction to the Google buses carrying technology workers from the city to the peninsula high-tech companies which employ them. We have outrage over the rising real-estate prices which these "techno geeks" can pay. We have, for example, libelous and cruel attacks in the Chronicle on our number-one celebrity, the author Danielle Steel, alleging that she is a "snob" despite the millions she has spent on our city's homeless and mentally ill over the past decades.
This is a very dangerous drift in our American thinking. Kristallnacht was unthinkable in 1930; is its descendant "progressive" radicalism unthinkable now?
Mr. Perkins is a founder of Kleiner Perkins Caufield & Byers.
In response to media criticism, Perkins defended his remarks during a January 27 interview with Bloomberg. Perkins admitted that Kristallnacht was a "terrible word to have chosen," but reiterated that he neither regrets nor retracts his core argument that the rich are being demonized and persecuted in the United States.
The sentiment that America's ultra-wealthy are being singled out for persecution is shared by some voices in the right-wing media. On the January 28 edition of Fox Business' Varney & Co., contributor Charles Payne glossed over Perkins' demeaning allusion to the horrific, racially-motivated violence that defined Nazi Germany at the onset of the Holocaust. Rather than criticizing the paranoia of Perkins' comments, Payne argued that the wealthy have "justified rage" and Perkins "may be a couple of years ahead of the curve":
Fox News has a history of facile and offensive comparisons of progressive economic or social policies with Nazi Germany. This is not even the first time a Fox employee has used Kristallnacht as the impetus for their faux outrage. In response to his recent indictment for violating campaign finance regulations, Fox darling Dinesh D'Souza wasted no time in parroting the "this is like Nazi Germany" line.
The fact remains, the United States in no way resembles Nazi Germany and there is no legitimate defense of Tom Perkins, or any other person, comparing Kristallnacht and other Nazi atrocities to protestors advocating in favor of better wages, affordable housing, and reasonable income tax rates for high earners. Perkins, a yacht-enthusiast who owns high-end property around the world as well as his own personal submarine, is not witnessing the sort of persecution faced by European Jews in the 1930s. The real Kristallnacht (November 9-10, 1938) saw intense racial violence in which 267 synagogues were destroyed, at least 91 innocent Jewish citizens of Germany were killed in the streets, and tens of thousands more were rounded up and placed in concentration camps. Most of them would die before Europe was liberated from Nazi oppression.
As the nation has recently experienced unusually cold winter weather, climate "skeptics" have emerged from within conservative media, casting doubt on the scientific consensus about manmade global warming -- a yearly phenomenon dubbed by MSNBC's Chris Hayes as "snow-trolling."
Stephen Colbert accurately summarized how conservatives often perform "simple observational research" to deny climate change: "Whatever just happened is the only thing that is happening." It appears many doubters need a lesson in the difference between weather and climate: a single weather event does not negate a long-term climate trend (although climatologists are actually getting better at identifying which extreme weather events that climate change has worsened). On average, the planet has been warming at a rate of 0.17°C, or 0.3°F*, per decade since 1971. The most recent decade was the planet's warmest on record -- even including a few cold winters.
From the January 2 edition of MSNBC's All In with Chris Hayes:
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Media Matters looks back at the best of the worst of right-wing media's treatment of women in 2013.
To hear conservatives tell it, Santa Claus is most definitely white, and his home isn't melting. At least that's what Fox News, with its recent barrage of attacks on an ad in which Santa warns about the impact of climate change on his Arctic home, would lead you to believe.
In December, the environmental group Greenpeace released an ad featuring the butler from Downton Abbey as a distraught Santa, who warns that as climate change drives continued Arctic ice melt, he may have to cancel Christmas. The ad calls for protecting the Arctic from offshore oil drilling, which, in a grim irony, is only possible in the region because of the ice melt.
The cheeky video was a "new low" achieved by "any-means-necessary" tactics, according to Fox News. It was also a chance to deny climate change. Rush Limbaugh declared "The ice is not melting at the North Pole," and a Fox News guest said "Santa's home is going to be fine ... for a long, long time to come." Fox News co-host Eric Bolling claimed contrary to any temperature record that "the globe is getting colder":
But Santa is right: the North Pole is melting. Arctic ice registered a record low in 2012 in line with a long-term melting trend. The sea ice extent in 2013 was not as low as 2012's (as was expected), but it was still among the lowest extents in the 35-year record, and does not represent a "recovery":
After Pope Francis released his first apostolic exhortation -- in which he criticized global inequalities of wealth and the tenets of so-called trickle-down economics -- right-wing media went on the attack, characterizing the pope's treatise as "disturbingly ignorant" and "pure Marxism."