More Evidence That Companies See Climate Risks As Material

More Evidence That Companies See Climate Risks As Material

More Evidence That Companies See Climate Risks As Material 849 565 Davis Cherry

Most Congressional briefings or hearings in the last decade on climate have focused on corporate or government efforts to reduce carbon emissions. Last week, major companies not only called for action on curb greenhouse gas emissions, but detailed how they are already beginning to feel the effects of climate-related impacts.

Kellogg, one of the companies represented in Washington, DC during this recent Capitol Hill briefing with national lawmakers, recently suffered financial losses from droughts in Egypt. Its Chief Sustainability Officer, Diane Holdo, stated that:

Climate change can impact both food security and our business by posing risks to the long-term health and viability of the ingredients we use in our foods.

Ben & Jerry’s, Clif Bar, Kellogg Company, Mars Incorporated, PepsiCo, Stonyfield and Unilever all shared their experiences of how climate risks are disrupting their supply chains and global agriculture production.

The sustainability organization Ceres organized the event and a representative, Anne Kelly, speaking of the briefing, stated that:

The food companies got very specific about the crops they need that are now threatened, from vanilla to sugar to rice to corn. Extreme weather events are now threatening their availability. These companies are seeing on-the-ground changes in their supply chains that affect the predictability of their businesses.

Climate risks are not just academic or think tank issues we need to worry about in the future. They are having tangible economic impacts now, and companies need more information about not just risks to their current supply chains, but where they will need to source new materials and goods in the future.

Through software, key partnerships and a keen understanding of emerging business risks, Adapt Ready is working to provide the best intelligence for companies that want to stay ahead of these emerging risks, reduce losses and gain competitive advantage.