Climate Change Could Cost Hundreds of Companies Almost a Trillion Dollars

It’s clear that climate change is going to continue to affect human lives in many ways. Its future effect on business has become more clear after a new report. According to the study, $970 billion will be lost by businesses due to the global issue of climate change. The nonprofit group CDP (formerly the Carbon Disclosure Project) conducted analyses of 215 businesses and reports that the companies studied will lose that vast amount of money within the next seven years.

Nicolette Bartlett of the CDP says that the financial industry has been more transparent than other business sectors in assessing potential future damages. The insurance group Allstate predicts that cities on America’s Gulf and East Coasts are in the most danger from damaging hurricanes. The transportation and infrastructure sectors have not yet “seemed to realize the full extent” of the potential losses to their industries due to climate change.