7 percent less profit due to climate change
Published: Saturday, Dec 14th 2024, 08:40
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If companies ignore climate risks such as extreme heat, they risk annual profit losses of up to 7% by 2035. This corresponds to almost half the decline during the coronavirus pandemic.
This is the conclusion of a study by the World Economic Forum WEF. The Forum sees particularly high risks from climate change in the telecommunications industry, utilities and energy companies. The reason for this is the vulnerability of data centers and network infrastructure to extreme heat and water shortages.
However, the WEF also sees opportunities. The market for sustainable products could triple to 14 trillion US dollars by the middle of the decade. Suppliers of alternative energies, sustainable means of transportation and sustainable consumer goods are likely to benefit.
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