· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on the World Economic Forum or enjoy below:
🗞️ Driving the news: A new World Economic Forum report outlines 10 key strategies for business leaders to build resilience against escalating climate hazards
• The report quantifies risks to assets across 20 industries and emphasizes the need for proactive adaptation to avoid financial and operational disruptions
🔭 The context: Businesses face increasing threats from extreme climate events like heatwaves, flooding, and drought, with fixed asset losses projected to reach $560-610 billion annually by 2035
• Failure to adapt could result in 7% earnings losses, particularly impacting utilities, telecommunications, and travel sectors
🌍 Why it matters for the planet: Integrating climate resilience strategies can protect ecosystems, reduce resource stress, and secure sustainable supply chains
• By addressing risks today, businesses play a vital role in mitigating global climate impacts and supporting communities
⏭️ What's next: The report recommends actions like decarbonizing operations, developing contingency plans, adopting circular business models, and fostering public-private collaborations to strengthen resilience
• Leaders must act swiftly within the next 24 months to integrate climate risk into core strategies
💬 One quote: “Businesses that fail to adapt to climate risks could lose up to 7% of earnings by 2035.” – World Economic Forum Report
📈 One stat: Climate hazards could drive $560-610 billion in annual fixed asset losses by 2035, rising to $1.1 trillion by 2055 under severe scenarios
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