Climate change to hit businesses hardest
Commercial enterprises stand to suffer the most as a consequence of global warming, new research by trade credit insurer Atradius has suggested.
In the aftermath of the recent storms that ravaged much of the UK mainland, it has emerged that more than a third (37 per cent) of all businesses report difficulties arising from severe climatic conditions.
The most commonly-cited ramifications are increases in total costs, decreased turnover, damage to buildings and lost productivity due to decreased mobility of staff or clients.
And yet despite environmental groups holding up the study as evidence that more must be done to pursue greater corporate social responsibility, still Atradius found that just two out of five affected companies are taking steps to protect themselves.
"Changes in our weather conditions continue to affect a huge range of business sectors," asserted Shaun Purrington, Regional Director of Atradius UK and Ireland.
"European business needs to wake up to the risks posed by global warming and climate change," he added. "It is clear that some are taking the risks more seriously than others."
Article Date: 14 March 2008
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