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2019-06-04. Companies See Climate Change Hitting Their Bottom Lines in the Next 5 Years.

posted Jun 4, 2019, 9:24 PM by Alan D. GOULD BA
By Brad Plumer, The New York Times. [https://www.nytimes.com/2019/06/04/climate/companies-climate-change-financial-impact.html] For GSS Climate Change chapter 8. Excerpt: WASHINGTON — 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 [https://www.cdp.net/en/research/global-reports/global-climate-change-report-2018-tcfd]. 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. ...“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.... In 2018, more than 7,000 companies [https://www.cdp.net/en/responses?utf8=✓&queries%5Bname%5D=] 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....