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Climate Change Seen As Major Risk To Business

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Timo Wagner
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Unsplash

Business leaders are seeing climate change as a major risk to their bottom line. And according to a new report, more companies are planning for it.

Worldwide, 72 percent of businesses are preparing for climate risks as part of their overall business strategy. That's true here in the U.S., but that number drops down to 65 percent.

That's according to a recent analysis from CDP, an international non-profit that focuses on the challenges and opportunities with climate change.

Bruno Sarda is the group's North American president. He says the disclosures show that investors see it doesn't have to be all bad.

"So, it's not just that the only upside is to avoid the downside," he says. "But that there's truly a great opportunity for business and capital to accelerate the transition to a low-carbon economy."

He says as the effects of climate change become more pronounced, an increasing number of businesses are planning for it.

"From maybe 5-6 years ago, you had less than 25 percent of large companies reporting on their sustainability goals and performance to now, close to 90 percent," he says.

Sarda says he expects more companies to disclose their climate plans as time goes on, because the businesses that will survive into the future are the ones who have prepared for the phenomenon.

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Boise State Public Radio in Idaho, KUER in Salt Lake City, KUNR in Nevada, and KRCC and KUNC in Colorado.

Copyright 2019 KUNR. For more, visit kunr.org.

Noah Glick is a former content director and host at KUNR Public Radio.