Companies Underestimate Broader Climate Risks, Survey Finds

Many businesses are overlooking the full extent of their climate risk, even after they’ve experienced the impacts of more extreme weather first-hand.

In a global poll of 130 risk managers conducted by Marsh, an insurance brokerage and risk advisory, fewer than half said their companies assess systemic climate risks that could impact critical infrastructure and supply chains. Rather, companies are focused more narrowly on risks to their direct holdings.

That echoes a report published this month by the World Business Council for Sustainable Development, which noted that companies often lack visibility on physical risks beyond their own assets.

That means ...