I read this recent risk management survey in which big businesses agree that climate change poses a risk to their business. So I wonder where the Republicans keep finding the climate change deniers? Do they say one thing in private and (gasp) lie in public?
Interestingly, physical risk concerns – those associated with climate change itself, not simply the policy/regulatory environment – were not far behind concern about the regulatory environment.
Respondents indicated concern that the physical effects of climate change could affect business by compromising their physical assets, disrupting supply chains or raising the costs of commodities such as water.
Despite recent media attention to climate-change skeptics, more than a third of respondents expected that the physical effects of climate change would affect their firms in 2-10 years’ time.
This represents nearly the same number of respondents who expected that physical impacts of climate change would become a relevant business concern in ten or more years. This near-term perception of physical climate risk was an unexpected result.
This perception arose both in high-emitting industry, which might be presumed to be more concerned about regulatory risk and its costs (and more muted about physical risks), and in non-high emitting industry, including financial services and insurance. A high proportion of
responses indicating that risk was “imminent,” “very likely” or “somewhat likely” came from heavy-emitting industries.