Whether a manufacturing facility is at risk from sea-level rise, or transportation routes to customers are cut off because of flooding, multi-national companies are very exposed to the impacts of global warming. And they know it.
Nearly 40 percent of the companies on the Standard & Poor’s Global 100 list are trying to assess how climate change is going to affect their businesses – but it’s not always easy.
Businesses need information in a way that may not be available, such as how climate change will affect the weather in a specific region. And even when they do have information, companies need a strategy for using long-term climate projections in their daily decision making. And the list does not end there.
Katy Maher of the Center for Climate and Energy Solutions says in addition to looking at their internal challenges, companies need to consider outside influences and infrastructure too.
Maher: “If a storm comes and a road is washed out or a bridge is washed out, that type of infrastructure is out of the control of the company. It’s really under the management of the local governments.”
”‘Businesses Click To TweetSo Maher says collaborations between business and government will be critical.
Maher: “It’s really clear that businesses and local governments need to work together in addressing climate risks and resilience.”
Reporting credit: ChavoBart Digital Media.
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