Climate change hits businesses where it hurts: their wallets.
Climate change and extreme weather topped the World Economic Forum’s annual list of risks facing businesses.
Out of 10 major threats to business in 2018, climate-related risks took slots 1 (extreme weather events), 2 (natural disasters), 5 (failure of climate change mitigation), and 7 (human-made environmental disasters) — outranking issues like terrorism, number 8. The forum ordered the risks by asking experts and companies to assess the likelihood of each risk.
In one vast, terrifying web, the report shows that environmental changes are linked to societal risks. Biodiversity loss and ecosystem collapse, for example, are linked to the spread of infectious diseases and food crises.
That’s the part of the report the authors seem to be most concerned about: the interconnectedness of all of these issues. “When risk cascades through a complex system, the danger is not of incremental damage but of ‘runaway collapse,'” the report says. Scared yet?