Big firms begin to face the music of climate change

Jun 13, 2018, 8:18 AM EDT
(Source: ItzaFineDay/flickr)
(Source: ItzaFineDay/flickr)

Perhaps the only virtuous thing about climate change is its undiscriminating wrath on both capitalist overlords and the have-nots. A new report by S&P 500 and climate risk management specialist, Resilience Economics, reveals that big businesses have begun to bear the brunt of climate change, with their earnings taking a rap to the tune of six percent in some cases.

Weather events in the year 2017 dented the earnings of 73 (primarily American) companies on S&P 500, reports Earther.

The report found that “weather” and “climate” drew more mentions from CEOs of publicly-traded companies than factors such as “Trump”, “oil”, “the dollar”, or “recession.” As weather calamities intensify in frequency and severity, more companies are expected to report climate issues and their impact on their bottom line in future, writes The Star.