Climate Change May Cost Hundreds of Companies Almost a Trillion Dollars

Climate Change May Cost Hundreds of Companies Almost a Trillion Dollars

Climate change may cost hundreds of companies almost a trillion dollars, according to a new report.

215 businesses believe $970 billion will be lost due to the global issue. The analysis from nonprofit CDP says the corporations think the losses will happen in the next seven years.

CDP's Nicolette Bartlett, via CBS Bartlett adds that the financial industry has been the most transparent of sectors in terms of assessing future damage.

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Allstate adds that American Gulf and East Coast cities are in the most danger from future hurricanes. But on the flip side, sectors like transportation and infrastructure haven't seemed to realize the full extent yet.