Climate risks weigh heavily upon business elite

Aw, pity the poor billionaires. Maybe we should pass the hat.

A greener life, a greener world

By Soumya Sarkar

As the World Economic Forum met in Davos last month, the world’s economic leadership thinks environmental disasters and climate-related impacts are the biggest risks to global business in 2018.

The 2017 Atlantic hurricane season inflicted losses of more than USD 200 billion. Photo credit: Michelle Maria.

Global business and political leaders have said extreme weather events would likely pose the greatest threat to business and commerce in 2018, which marks a major departure from what they thought even 10 years ago when economic factors such as asset price collapses and oil and gas price hikes were perceived as major risks.

For the second year running, the economic leadership has rated extreme weather as the world’s biggest threat, according to the Global Risks Report 2018 released last month by the World Economic Forum (WEF) which started its annual meeting at the alpine resort of Davos in…

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6 thoughts on “Climate risks weigh heavily upon business elite

    • Good question, Rosaliene. I know Shell is launching into renewable energy in a big way and maybe Exxon somewhat. Shell has pulled out of their local oil/gas projects here in New Plymouth. Shell Todd Oil Services has been renamed Todd Oil Services – the Todd family being the New Zealand oil barons.

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  1. I guess Trump is the only billionaire that is not swayed by this revelation seeing as how he cannot decide whether to have America rejoin the Paris Climate Agreement after having refused to enter into the deal or not. So, I guess when Mar-a-Lago is under water or has been swept away by a massive hurricane, he’ll either figure it out or blame it on terrorists or more likely on Mexican rapists.

    How many ways can I say that the man is a clueless, inept fool without constantly repeating myself?

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  2. The one thing I do know, Alan, is that the insurance industry is at the forefront of the business community in arguing for reducing climate emissions. They have taken a major financial hit with recent wild fires and extreme weather events. I suppose they will have to duke it out with the fossil fuel industry – either that or quit offering fire and flood protection with their homeowners insurance.

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