Whole Travel Blog

According to Reuters, Argentina will soon become the first country to require an environmental insurance, meaning that companies engaging in projects that are potentially harmful to the environment will have to purchase insurance to cover any such environmental damage.

Argentinean officials report that an estimated 35,000 companies will have to pay an annual policy costing between $36k to $15M.

Besides wondering if other countries will follow Argentina’s lead, an entirely different question to think about is whether companies will now build the cost of environmental damage into their budgets or whether they will consider their possibly detrimental footprint before taking a step.