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Respecting Mother Nature

Global climate change and weather-related risks will likely have "significant" to "severe" impacts on business models.

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The recent flooding in the Midwest and looming threat of hurricanes on the East Coast and in the Gulf of Mexico this summer highlight the need for companies to get a better handle on how to manage risks caused by changing weather patterns. In fact, 82% of senior finance executives and risk managers surveyed in a new study reported that they believe global climate change will require changes to their business models, according to CME Group and Storm Exchange. About 60% said the impact of weather-related risks on their businesses could be “significant” or “severe.” The study included 205 senior-level finance professionals in mid-to-large size companies in such weather-sensitive industries as energy, retail, and construction.

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