More than 200 of the world’s largest listed companies forecast that climate change could cost them a combined total of almost $1 trillion, with much of the pain due in the next five years, according to a report published on Tuesday.
 |
| Steam and exhaust rise from the steel mill HKM Huettenwerke Krupp Mannesmann GmbH on January 6, 2017, in Duisburg, Germany. |
Even so, the findings by charity CDP suggested many companies still underestimated the dangers as scientists warn that earth’s climate system is on course to hit catastrophic tipping points without rapid cuts in carbon emissions.
“Most companies still have a long way to go in terms of properly assessing climate risk,” said Nicolette Bartlett, CDP’s director of climate change, who authored the report.
Founded in the early 2000s, CDP — formerly known as Carbon Disclosure Project — is a respected voice in a growing coalition of pressure groups, fund managers, central bankers and politicians who believe global warming poses a systemic risk to the financial system.
Read the CBNC News story - “World’s biggest firms foresee $1 trillion climate cost hit, report finds."
No comments:
Post a Comment