Study: Businesses Vastly Underestimate Costs, Impacts of Climate Change

Despite recent reports that highlight the potentially devastating economic impact of climate change, the business world may not be taking the threat seriously enough, according to a new study.

Businesses are not planning adequately for the impacts
of climate change, a new study shows. 

The researchers looked at more than 1,600 corporate adaptation strategies, concluding that most companies are making only narrow and incremental changes to managing the risks and finding “significant blind spots in companies’ assessments of climate change impacts and in their development of strategies for managing them.” The study was published last week in the journal Nature Climate Change.

“It’s something that not enough companies are paying close enough attention to, and even those that are have room for improvement,” said John Weiss, company network director at Ceres, a nonprofit dedicated to sustainable business practices and investing.

Read the Climate Liability News story by Dana Drugmand  - “Study: Businesses Vastly Underestimate Costs, Impacts of Climate Change.”