Climate change is putting 7% of corporate earnings in jeopardy
Companies are seeing up to US$19 in avoided losses for every dollar spent on climate resilience.
Companies must adapt to climate risks or risk losing 7% of their annual earnings by 2035, two new World Economic Forum (WEF) reports warn.
The yearly financial impact of not acting on climate change is nearly half of that caused by Covid-19-related global disruptions This means that companies that do not adapt could effectively suffer pandemic-level impacts every two years, with extreme heat and other climate hazards expected to cause US$560-610 billion in annual fixed asset losses for listed firms.
