Revealed: how Wall Street is making millions betting against green laws
Guardian analysis finds fossil-fuel and mining firms have won $92bn of public money from states, with a growing number of cases backed by financial speculatorsRead more: Fearing toxic waste, Greenland ended uranium mining. Now, they could be forced to restart - or pay $11bnFinancial speculators are investing in a growing number of lawsuits against governments over environmental laws and other regulations that affect profits, often generating lucrative awards, the Guardian has found.For a long time, litigation finance thrived primarily in the realm of car crashes and employment claims. “Had an accident that wasn’t your fault?” was the industry’s billboard catchphrase, offering to finance lawsuits in exchange for a cut of any payout. Continue reading...
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