Listen: Corporate risk, opportunity from climate change
"Support for climate cast comes from Bank of America financing clean energy initiatives and advancements in renewable energy and spurring innovation and the growth of environmentally focused companies markets and jobs Bank of America, NA, member FDIC. Corporate risk and opportunity from climate change. I'm NPR chief meteorologist Paul Hefner. This is climate cats. Coke worries about water supplies, AT and T lost six hundred million in weather, disasters and Home Depot. Sees prophets. A new report details climate change risks opportunities and bottom line impacts for major companies. Chris FLA Val covers climate change and business for Bloomberg news, real gannet. But I think the most relevant and pressing threat. His can we keep on doing what we do making? What we make an selling what we sell in a world in which climate change gets worse and worse. And and how do we deal with that? You know, you mentioned coke that is jumps right off the page. Right. Of Coca Cola is showing concern about water resources because they may not be able to find water to bottle their product in some areas. Isn't that a big red flag for many? Companies on climate change. Yeah. You know, the thing that you notice reading through these reports is of the companies that responded, which is an all of them. But a lot of them. I looked at the biggest companies by market capitalization. It's pretty hard to find companies that dispute the notion that climate change will threaten their profitability or their strategy. There seems to be a wide degree of consensus on that question. It means something, and it's not good, or at least the risks are real. And they're serious. Chris businesses look at risks. And they look for two days, I found the apple comments in your story kind of interesting our iphones as an emergency response device. The most surprising part of all this probably is the interesting ways in which companies say they can increase their revenue and apple is a great example. I thought this notion of banks saying, hey, our customers, you need money to deal with this and we can help with that. We can help them fund new things. I gotta build Home Depot saying people are gonna need. More air conditioners, more ceiling fan things like that. And then of course, what can you do with an iphone which I never thought of before? So one could see this as I guess, a good news story where people societies and communities and individuals will have a whole range of new needs that they might not even thought of yet and degree that companies actually respond by offering new things that meet those needs. It doesn't solve the problem. But maybe it makes things less acute. We are all sailing into uncharted waters. Here it seems Chris Lavelle covers climate change and business for Bloomberg news. Thanks for talking about your reporting today on climate cast pay me on. My name's Dan Kruger. I'm twenty four I moved to the tons as a couple of years ago, and I bought an electric car because I was curious about it. And I think it's a much better way to travel. I've always kind of been tackled obsessed, and I come from it from that angle, and sort of through that reading blogs and things I come out to tesla cars, and that really turned me into electric vehicles. I'd like to think that I would be interested in anyway with without tesla influence, but I think that's kind of the whole point of that company. Is it makes cars that people care about not because they're efficient or because they're good for the environment. But because they're fun and cool. I got my car two years ago roughly, and I bought it used from tesla directly the experience of owning. It has been really simple. I mean, it's a lot like any other car and frankly easier in most respects, I don't need to get all changes or anything like that. I bought a couple sets tire so far. I like to think of it like the more people that are early adopters now, and I still think of this as early even though there's a ton of electric cars on the road. Personally. It's more about helping create demand for the infrastructure. So people install more chargers, which ultimately, I think is kind of the pickle. You'd be surprised at how relatively easy. It would be a lot of people to have an electric car. Even as a second one out of the two cars in your family, and a lot of those people could on a purely selfish level. Save a ton of money driving to work in back. You're driving twenty miles a day. You're going to be spending a lot less money on electricity than you would be on gas. That's climate cast. I'm NPR chief meteorologist Paul Hefner."