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Climate change related resilience planning has become crucial for all corporations

S&P 500 companies are seeing climate change related risks increase in urgency, likelihood and frequency, with many describing significant impacts already affecting their business operations, according to a new report from CDP, which collects environmental performance information on behalf of investors.

Reported risks affect companies in all economic sectors and include damage to facilities, reduced product demand, lost productivity and necessitated write-offs, often with price tags reaching millions of dollars.

Forty five percent of the risks S&P 500 companies face from extreme weather and climate changes are current, or expected to fall within the next one-to-five years, up from 26 percent just three years ago.

The S&P 500 companies also indicate that 50 percent of these risks range from “more likely than not” to “virtually certain” up from 34 percent three years ago.

"Dealing with climate change is now a cost of doing business" says Tom Carnac, President of CDP in North America. "Making investments in climate change related resilience planning both in their own operations and in the supply chain has become crucial for all corporations to manage this increasing risk".

Around 60 companies describe the current and potential future risks and their associated costs in the research, which highlights excerpts from the companies’ disclosures to their investors between 2011 and 2013.

The report is available at https://www.cdp.net/CDPResults/review-2011-2013-USA-disclosures.pdf

•Date: 26th May 2014 • US/World •Type: Article • Topic: Enterprise risk management

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