Fat cat pay at fossil fuel companies drives climate crisis – report
▻http://www.theguardian.com/environment/2015/sep/02/fat-cat-pay-at-fossil-fuel-companies-drives-climate-crisis-report
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.
The report, “Money to Burn: How CEO pay is accelerating climate change”, argued that such out-size pay packages – inflated by bonuses for expanding reserves – encouraged executives to hunt for oil, coal and gas even though those new fuel sources can not be tapped without triggering dangerous climate change.