 It didn't show up on corporate balance sheets as the cost of doing business. Instead, those costs were borne by society. That's according to a new report from S&P Global Sustainable One, part of the financial firm S&P Global. Researchers estimated the cost of things like air pollution that causes respiratory disease and climate change, which is driven by heat-trapping emissions from burning fossil fuels. It added up to more than $3.7 trillion in hidden costs in 2021.