•   
  •   

Tech & Science Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years

08:17  04 june  2019
08:17  04 june  2019 Source:   msn.com

'I can't pay for groceries': The Voice's Kristie Mercer recalls humbling moment she hit rock bottom after her KIIS radio show was cancelled

'I can't pay for groceries': The Voice's Kristie Mercer recalls humbling moment she hit rock bottom after her KIIS radio show was cancelled Former KIIS radio host, Kristie Mercer, has recalled the humbling moment she hit rock bottom. Following her audition on The Voice on Sunday, the 29-year-old told TV Week on Monday that she was once forced to work multiple jobs to make ends meet. She called her father and said, 'I've got no money. I can't pay for groceries. ' © Provided by Associated Newspapers Limited Sweet life: Kristie's life was a charmed one before the cancellation of her radio show, where she got to meet celebrities like Katy Perry (pictured) I was crying every day, thinking 'What am I doing with my life? What a fall from grace'.

that climate change could substantially affect their bottom lines within the next five years A recent analysis published in the journal Nature Climate Change warned that companies are “ Climate change -related risks have the potential to become systemic for the euro area,” the bank

Many of the world’s biggest companies , from Silicon Valley tech firms to large European banks, are bracing for the prospect that climate change could substantially affect their bottom lines within the next five years , according to a new analysis of corporate disclosures.

Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years© Rodger Bosch/Agence France-Presse — Getty Images Total, the French energy giant, has cited analysts’ claims that efforts to tame global warming might render some reserves “unburnable.” A Total offshore facility, above, sent flames into the sky off the coast of Angola.

Many of the world’s biggest companies, from Silicon Valley tech firms to large European banks, are bracing for the prospect that climate change could substantially affect their bottom lines within the next five years, according to a new analysis of corporate disclosures.

Under pressure from shareholders and regulators, companies are increasingly disclosing the specific financial impacts they could face as the planet warms, such as extreme weather that could disrupt their supply chains or stricter climate regulations that could hurt the value of coal, oil and gas investments. Early estimates suggest that trillions of dollars may ultimately be at stake.

Young man dies after hitting tree as state mourns family of five

Young man dies after hitting tree as state mourns family of five The fatal crash happened about 24 hours after a head-on smash in the South Burnett region killed a mother and her four children.

Only a fraction of companies worldwide currently report their climate risks, and many large firms, including energy giants Exxon On the flip side, the CDP report found, many companies also see moneymaking potential in climate change . Some 225 of the world’s largest corporations highlighted

Content older than a year MUST have [month, year ] in the title. Charts and data-driven images MUST include a source. Quantifying the financial impact of climate change is so very neo-liberal. How about capitalism is going to collapse along with humanity in the next 50 years ?

Even so, analysts warn that many companies are still lagging in accounting for all of the plausible financial risks from global warming.

“The numbers that we’re seeing are already huge, but it’s clear that this is just the tip of the iceberg,” said Bruno Sarda, the North America president for CDP, an international nonprofit that wrote the new report and works with companies around the world to publicly disclose the risks and opportunities that climate change could create for their businesses.

Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years© Brian Snyder/Reuters Google’s energy-hungry data centers could become more expensive to cool  its parent company has said. Above, a Google data center facility in Iowa.

Want climate news in your inbox? Sign up here for Climate Fwd:, our email newsletter.

Crucial to life, oceans get chance in climate spotlight

Crucial to life, oceans get chance in climate spotlight Armed with better data than ever before, scientists have in recent months sounded the alarm over the rising pace of global warming and the parlous state of Nature. But there is another area of concern, one that covers two thirds of the planet and plays a crucial role in absorbing dangerous greenhouse gases and regulating everything from food chains to weather patterns. Oceans are crucial to life on Earth, yet they frequently only feature in the environment debate when plastic pollution or fish-stock declines are discussed. But experts believe that might be changing.

Only a fraction of companies worldwide currently report their climate risks, and many large firms, including energy giants Exxon Mobil and Chevron, did not A recent analysis published in the journal Nature Climate Change warned that companies are reporting on these risks only “sporadically and

climate change could substantially affect their bottom lines within the next five years , according to a A recent analysis published in the journal Nature Climate Change warned that companies are On the flip side, the CDP report found, many companies also see moneymaking potential in climate

Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years
How To Get A Home Loan With 5% Deposit
Find out more on Finder
Ad Finder.com.au

In 2018, more than 7,000 companies submitted such reports to CDP, formerly known as the Carbon Disclosure Project. And, for the first time, CDP explicitly asked firms to try to calculate how a warming planet might affect them financially.

After analyzing submissions from 215 of the world’s 500 biggest corporations, CDP found that these companies potentially faced roughly $1 trillion in costs related to climate change in the decades ahead unless they took proactive steps to prepare. By the companies’ own estimates, a majority of those financial risks could start to materialize in the next five years or so.

The disclosures show how business leaders expect climate change, and the policy responses to it, to ripple through every corner of the global economy.

Many firms are bracing for direct impacts. Hitachi Ltd., a Japanese manufacturer, said that increased rainfall and flooding in Southeast Asia had the potential to knock out suppliers and that it was taking defensive measures as a result. Banco Santander Brasil, a large Brazilian bank, said increasingly severe droughts in the region might hurt the ability of borrowers to repay loans. Google’s parent company, Alphabet, Inc., noted that rising temperatures could increase the cost of cooling its energy-hungry data centers.

Crucial to life, oceans get chance in climate spotlight

Crucial to life, oceans get chance in climate spotlight Armed with better data than ever before, scientists have in recent months sounded the alarm over the rising pace of global warming and the parlous state of Nature. But there is another area of concern, one that covers two thirds of the planet and plays a crucial role in absorbing dangerous greenhouse gases and regulating everything from food chains to weather patterns. require(["inlineoutstreamAd", "c.

Admin Climate Change No comments. WASHINGTON — Many of the world’s biggest companies , from Silicon Valley tech firms to large European banks, are bracing for the prospect that climate …

Many of the world’s biggest companies , from Silicon Valley tech firms to large European banks, are bracing for the prospect that climate change could substantially affect their bottom lines within the next five years , according to a new analysis of corporate disclosures.

Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years© Eric Thayer for The New York Times Crews working on power lines in the aftermath of last year’s Camp Fire in Paradise, Calif., which contributed to the bankruptcy filing by Pacific Gas and Electric.

Others are keeping a close eye on the potential public reaction to climate change. Total, a French energy company, is grappling with the possibility that ambitious efforts by nations to limit global warming and restrict fossil fuel use could render some oil and gas reserves “unburnable.” BASF, a German chemical company, said it has a “significant corporate carbon footprint” that could scare off environmentally conscious shareholders unless it takes steps to act on climate change.

In all, the world’s largest companies estimated that at least $250 billion of assets may need to be written off or retired early as the planet heats up. Those assets include buildings in high-risk flood zones, or power plants that may have to shut down in response to tighter pollution rules.

The disclosures offer only a partial glimpse at the potential price tag of climate change. Only a fraction of companies worldwide currently report their climate risks, and many large firms, including energy giants Exxon Mobil and Chevron, did not submit a disclosure to CDP last year. The companies that do disclose often struggle to tease out precisely how rising temperatures might hurt or help them financially.

Crucial to life, oceans get chance in climate spotlight

Crucial to life, oceans get chance in climate spotlight Armed with better data than ever before, scientists have in recent months sounded the alarm over the rising pace of global warming and the parlous state of Nature. But there is another area of concern, one that covers two thirds of the planet and plays a crucial role in absorbing dangerous greenhouse gases and regulating everything from food chains to weather patterns. require(["inlineoutstreamAd", "c.

I expect a weaker bottom line because I see the trends. I talk to and understand my customers. I discuss business with my competitors and tourism association. If climate change continues at the current rate, what changes can we expect within the next 5 years ?

Energy & Environment | Climate Change ’s Bottom Line . Advertisement. “I’m 63 years old, and I’ve grown up in the upper latitudes. I’ve seen too much change to presume we might not get more.” He says that over the next 50 years , if nothing is done, crop yields in many states will most likely fall, the

For instance, Mr. Sarda said, it’s relatively straightforward for businesses to calculate the potential costs from an increase in taxes designed to curb emissions of carbon dioxide, a major greenhouse gas that contributes to global warming. Indeed, this is one of the most common climate-related risks that companies now disclose. But it’s trickier to take scientific reports about rising temperatures and weather extremes and say what those broad trends might mean for specific companies in specific locations.

Previous studies, based on computer climate modeling, have estimated that the risks of global warming, if left unmanaged, could cost the world’s financial sector between $1.7 trillion to $24.2 trillion in net present value terms. A recent analysis published in the journal Nature Climate Change warned that companies are reporting on these risks only “sporadically and inconsistently” and often take a narrow view of the dangers that may lie ahead.

Pacific Gas and Electric, California’s largest electric utility, offers a case study in how some corporate disclosures can be far from perfect.

In its report to CDP last year, PG&E said that the rise in wildfire risk in the American West, partly driven by global warming, could create significant financial costs if the utility were held liable for the fires. PG&E estimated the “potential financial impact” from wildfires at around $2.5 billion, based on claims that the utility had paid out in 2017.

Nearly a billion people facing high exposure to climate change effects, Global Peace Index finds

Nearly a billion people facing high exposure to climate change effects, Global Peace Index finds Some 970 million people — including more than 2.4 million Australians — live in areas with high exposure to climate hazards including cyclones, floods, bushfires, desertification and rising sea levels, a new report finds.

Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years . Climate change could cost the U.S. economy hundreds of billions a year by 2090. Yale Climate Connections.

Many corporations see climate change posing a significant threat to their business within the decade, according to a new report. Those different time lines create a “impasse” between companies and their investors. Kumar gives the example of coal energy plants, which may be profitable in the short

However, that turned out to be overly optimistic: This past January, PG&E filed for bankruptcy protection and said it now faced up to $30 billion in fire liabilities shortly after its power lines sparked what became California’s deadliest wildfire yet last fall.

On the flip side, the CDP report found, many companies also see moneymaking potential in climate change. Some 225 of the world’s largest corporations highlighted roughly $2.1 trillion of possible opportunities in a warming world, with the majority expected to materialize within the next five years.

Eli Lilly, a drug maker in the United States, cited research suggesting that rising temperatures could drive the spread of infectious diseases — a problem the company was well-positioned to help address. “This may then increase demand for certain medicines we produce,” the firm said. (At the same time, the company also warned that climate change could hurt financially if flooding and fiercer storms disrupted its manufacturing facilities in places like Puerto Rico, as happened after Hurricane Maria in 2017.)

And any shift toward clean energy sources offers a chance to profit. ING Group, a Dutch financial services firm, estimated that the shift to a low-carbon economy could require $30 trillion in new investments toward clean energy and energy efficiency worldwide. As a result, ING aims to double its “climate finance portfolio” by 2022, the company said in its disclosure.

The report comes as financial regulators have expressed growing concern that markets aren’t yet fully pricing in the potential financial consequences of climate change. Last month, the European Central Bank warned that a spate of severe weather that caused major losses for insurers, or an unexpectedly rapid shift by investors away from fossil fuels could hit the balance sheets of unprepared banks and potentially destabilize the financial system.

Is Climate Change Inconvenient or Existential? Only Supercomputers Can Do the Math

Is Climate Change Inconvenient or Existential? Only Supercomputers Can Do the Math Earth is warming, and we know why. 

“Just as human behaviour influences climate trends, climate change in turn influences human behaviour,” says the study published in the journal PLOS Computational Biology. Companies see climate change hitting their bottom lines in the next five years : analysis Subscriber content.

Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years . “In 40 years of skepticism, there has not been a theory put forth that has traction, that has a school of thought associated with it,” said Keeling, who is carrying on his father’s groundbreaking research tying the rise

“Climate change-related risks have the potential to become systemic for the euro area,” the bank said, “in particular if markets are not pricing the risks correctly.”

In 2015, the Financial Stability Board — an influential panel made up of finance ministers, central bankers and regulators from the world’s largest economies — established a task force that aimed to coax banks and other businesses to be more transparent about their climate risks. But progress has been slow.

The CDP report found that companies headquartered in the European Union are much more likely to detail the potential financial effects of global warming, in part because local regulations often require them to do so. By contrast, companies in the United States, China, Brazil and Mexico were far less likely to report significant financial risks.

In the United States, the Securities and Exchange Commission does not mandate that publicly traded companies account for potential climate impacts, though the agency has offered guidance on how firms can do so. Some large institutional investors, such as the mutual fund company Vanguard Group and New York State’s pension fund, have started to urge companies to be more transparent about their climate exposure, a trend that has helped drive the recent uptick in disclosures.

Mr. Sarda of CDP said that he expected companies to offer “more clarity” and “more sophistication” in their disclosures as the pressure to do so builds. But, he said, “it’s certainly a big process.”

For more news on climate and the environment, follow @NYTClimate on Twitter.

Read more

Norway's $US1 trillion ($AU1.4 trillion) sovereign wealth fund to dump billions in coal investments.
The world's largest sovereign wealth fund will divest from a slew of coal companies and oil explorers and producers, after Norway's parliament approved tighter investment rules. 

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!