Month: June 2019

Stiglitz on Global Warming

Joseph Stiglitz makes shrewd observations.

profit: tipping point for coal; 2050 report aussie;

nucs gain with carbon price or tax

Companies see $1tn in climate risk, but more in potential reward

creation quotes
Eric Roston, Bloomberg

Companies see up to $970bn in direct and indirect climate risks, such as taxes or market shifts, according to an analysis of thousands of corporate disclosures by non-profit CDP, reported by Bloomberg and others. The firms expect to see more than twice this total – some $2.1tn – in opportunities for new climate-friendly products and services, Bloomberg adds. The analysis is based on returns from nearly 7,000 firms, reports CNN

, which adds that the companies’ responses show that “80% of the largest companies expect climate change to result in major changes including extreme weather patterns”. Nevertheless, CDP says that many firms are failing to account fully for the climate risks they face, reports the New York Times

. Reuters

, Wired

and BusinessGreen

all have the story. Separately, Reuters

reports that scientists at the Woods Hole Research Center in Massachusetts are partnering with consulting firm McKinsey to study the impacts of climate change on companies.