Catalyzing Action on Climate Change: Stopping Denialism and the Role of Business

This statement by the Center for International Environmental Law (CIEL) calls for the business and insurance sectors to stop climate change denialism and support ambitious action ahead of the September 23, 2014, UN Climate Summit. The author highlights the role of fossil fuel companies in funding campaigns to subvert legislation and argues that the insurance industry should reconsider providing directors and officers (D&O) liability coverage for activities that undermine climate action.

• CIEL identifies a dichotomy in the role of business regarding climate change, noting positive efforts like the "Risky Business Report" co-chaired by Michael Bloomberg, Henry Paulson, Jr., and Tom Steyer, contrasted with negative actions such as climate denialism and fossil fuel companies funding "grassroots" campaigns to obstruct legislative action.
• The document asserts that business-driven climate denialism contributes to public skepticism in the United States, where 25% of Americans are "solidly skeptical" of global warming and only 39% are "concerned believers."
• Using the Philippines as an example of climate change costs, the text cites an economic study finding that increased cyclonic activity alone could cost the country $6.5 trillion in present discounted value (assuming a 1% discount rate), which equals -2,382% of the Philippines' current GDP of $272 Billion. Using a 5% discount rate, the loss is estimated at 83% of the current GDP.
• CIEL, in collaboration with Greenpeace International and World Wildlife Fund International, has questioned fossil fuel company directors and officers on their personal liability for misleading the public or regulators about climate risks. Additionally, CIEL has contacted insurers to determine if directors and officers (D&O) liability policies cover anti-climate action activities, urging the insurance industry to examine the ethics of such coverage.

APA

Korol, M. M. (2014). Catalyzing Action on Climate Change: Stopping Denialism and the Role of Business. Center for International Environmental Law. https://www.ciel.org/catalyzing-action-on-climate-change-stopping-denialism-and-the-role-of-business/

Chicago

Korol, Muriel Moody. Catalyzing Action on Climate Change: Stopping Denialism and the Role of Business. Center for International Environmental Law, 2014. https://www.ciel.org/catalyzing-action-on-climate-change-stopping-denialism-and-the-role-of-business/.

Wikipedia

{{cite press release |last1=Korol |first1=Muriel Moody |title=Catalyzing Action on Climate Change: Stopping Denialism and the Role of Business |publisher=Center for International Environmental Law |date=11 September 2014 |url=https://www.ciel.org/catalyzing-action-on-climate-change-stopping-denialism-and-the-role-of-business/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{korol2014catalyzing, author = {Korol, Muriel Moody}, title = {{Catalyzing Action on Climate Change: Stopping Denialism and the Role of Business}}, publisher = {Center for International Environmental Law}, year = {2014}, month = sep, url = {https://www.ciel.org/catalyzing-action-on-climate-change-stopping-denialism-and-the-role-of-business/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }