More companies integrating climate change into business strategies

edie.net: Climate change has climbed the boardroom agenda after a number of extreme weather events disrupted business operations and supply chains around the world, according to the Carbon Disclosure Project (CDP) Global 500 Climate Change report released today.

Recent events have included the hottest US summer on record, fires in Russia and severe flooding in the UK, Japan and Thailand. Due to these events 81% of reporting companies now identify physical risk from climate change, with 37% perceiving these risks as a real and present danger, up from 10% in 2010.

The CDP report, co-written by professional services firm PwC on behalf of 655 institutional investors representing $78tn in assets, provides an annual update on greenhouse gas emissions data and climate change strategies at the world's largest public corporations.

In 2012, companies integrating climate change into their business strategies increased by 10% year-on-year, to 78%.

...Carbon Disclosure Project CEO, Paul Simpson, said: "Extreme weather events are causing significant financial damage to markets"....