Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years

By -
https://www.nytimes.com/2019/06/04/climate/companies-climate-change-financial-impact.html

Source:  By Brad Plumer, The New York Times.

Excerpt: WASHINGTON — Many of the world’s biggest companies, from Silicon Valley tech firms to large European banks, are bracing for the prospect that climate change could substantially affect their bottom lines within the next five years, according to a new analysis of corporate disclosures [https://www.cdp.net/en/research/global-reports/global-climate-change-report-2018-tcfd]. Under pressure from shareholders and regulators, companies are increasingly disclosing the specific financial impacts they could face as the planet warms, such as extreme weather that could disrupt their supply chains or stricter climate regulations that could hurt the value of coal, oil and gas investments. Early estimates suggest that trillions of dollars may ultimately be at stake. ...“The numbers that we’re seeing are already huge, but it’s clear that this is just the tip of the iceberg,” said Bruno Sarda, the North America president for CDP.... In 2018, more than 7,000 companies [https://www.cdp.net/en/responses?utf8=✓&queries%5Bname%5D=] submitted such reports to CDP, formerly known as the Carbon Disclosure Project. And, for the first time, CDP explicitly asked firms to try to calculate how a warming planet might affect them financially....

Popular posts from this blog

2024 was the hottest year on record, breaching a critical climate goal and capping 10 years of unprecedented heat

By -
By Laura Paddison , CNN.  Excerpt: It’s official: 2024 was the hottest year on record, breaking the  previous record  set in 2023 and pushing the world over a critical climate threshold, according to new data from Europe’s climate monitoring agency Copernicus [ https://climate.copernicus.eu/copernicus-2024-first-year-exceed-15degc-above-pre-industrial-level ]. Last year was 1.6 degrees hotter than the period before humans began burning large amounts of fossil fuels, Copernicus found. It makes 2024 the first calendar year to breach  the 1.5-degree limit  countries agreed to avoid under the Paris climate agreement in 2015. Scientists are much more concerned about breaches over decades, rather than single years — as above that threshold humans and ecosystems may struggle to adapt — but 2024’s   record   “does mean we’re getting dangerously close,” said Joeri Rogelj, a climate professor at Imperial College London....  Full article at https://www.cnn.c...
Read more

Where Glaciers Melt, the Rivers Run Red

By -
By Mitra Taj , The New York Times.  Excerpt: As the glaciers of South America retreat, the supply of freshwater is dwindling and its quality is getting worse. Dionisia Moreno, a 70-year-old Indigenous farmer, still remembers when Shallap River, nearly 13,000 feet up in the Cordillera Blanca, brought crystal clear water brimming with trout to her village, Jancu. “People and animals alike could drink the water without suffering,” she said. “Now the water is red. No one can drink it.”....  Full article at https://www.nytimes.com/2024/11/19/science/peru-glaciers-water-pollution.html . 
Read more

How will China impact the future of climate change? You might be surprised

By -
By Julia Simon , NPR.  Excerpt: The U.S. is preparing for a second presidential term for Donald Trump, who has called climate change a hoax and federal investments in climate solutions a " green new scam “. In China, it’s a different story. China has made it clear it plans to be at the forefront of manufacturing climate solutions–and selling them around the globe. China is the world’s largest producer of renewable energy, now constructing almost  two thirds of all large-scale wind and solar power , according to nonprofit Global Energy Monitor. And China is spreading climate solution technologies across the developing world. Walk into an electric vehicle showroom in Colombia, the Dominican Republic, or Kenya these days, and the car on offer is likely made in China. “They’ve set up a situation where it’s good for them to sell clean energy technologies to the world,” says  Alex Wang , a professor of law at UCLA focused on Chinese climate policy. “It’s very good economically,...
Read more