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Volume 32, Issue 3

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Tuesday, 21 April 2015 05:00

Climate Change: A Risk Businesses Cannot Ignore

Written by  Randy Heffernan

Are businesses prepared for skyrocketing energy costs to combat extreme heat? Can Midwestern farmers handle average crop losses of up to 73 percent in the coming decades? Should businesses invest in oceanfront property that is virtually guaranteed to flood? Because of climate change, these are just a sample of the crucial questions that the U.S. will face before the end of the century, according to “Risky Business: The Economic Risks of Climate Change in the United States,” a report co-chaired by business experts Michael R. Bloomberg, Henry Paulson, and Tom Steyer. The report aims to quantify and publicize the economic risks posed by the impacts of a changing climate. While climate change is an often a polarizing and politicized topic, there is little controversy that the phenomenon presents a great deal of risk to everyone, from individuals to institutions. How do we begin to address the problems posed by climate change?