climate change and the bottom line

June 5, 2012

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Hurricane Irene makes landfall in August 2011./Photo from NASA.

Maryland State Treasurer Nancy K. Kopp says companies should disclose risks they face from climate change so that investors, including states, can make better decisions. Her comments came after a group of nonprofits and investors issued a guide for disclosing and managing risks called Physical Risks from Climate Change. The report indicates that climate change  “has already started to cause a wide range of physical effects— with serious implications for investors and businesses. While weather variability and extremes have always existed, the science shows that extreme weather events are becoming more frequent and intense, that incremental climatic changes are already underway, and that the impacts of climate change are expected to grow more severe over the coming years and decades.” Of the losses in 2011 from natural catastrophes, extreme weather accounted for 90 percent of the disasters,  the report said, and caused $55 billion in insured losses and $148 billion in total losses. 

 Read more about Nancy Kopp’s comments here and find the report here.

Tonight, you can hear what the state has in mind not only for investors but for the rest of us worker bees. Officials will be discussing Maryland’s Plan to Reduce Greenhouse Gas Emissions  from 6 – 8 p.m. at the Maryland Dept. of the Environment, 1800 Washington Blvd., Baltimore, First floor-Aqua & Terra Conference Rooms. (info: 410-537-3240).  (The ClimateHoward blog post from May 31 has a few details about the plan.)

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