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

Financial System - New York Times - Key Takeaway: *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.*

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