November 01, 2014

Time to Issue a New Climate Disclosure Guidance

Sudhir Lay Burgaard

Let’s face it—climate change affects corporate bottom lines. Changes in precipitation and natural disasters or extreme weather events, such as hurricanes, tornadoes, and snowstorms, can affect the costs of doing business. For example, droughts lead to lower cotton yields and higher cotton prices, resulting in increased costs for clothing manufacturers. Hurricanes and tornadoes can wipe out brick-and-mortar stores or cause temporary store closures. Flooding or wildfires can cause property damage that can be costly to repair, delay production, and hinder transportation.

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