Large companies' assets at growing risk of climate impact - S&P Global
Over 90% of the world's largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday.
"Investors and companies are seeking advanced analytics to respond to the financial impact of climate change. Essential to this, is the ability to quantify the financial impact of climate change at asset level to enable meaningful mitigation and adaptation planning," James McMahon, Chief Executive Officer of The Climate Service, part of S&P Global, said in a statement.
Using climate models that simulate the physics, chemistry and biology of the atmosphere, lands and oceans, S&P said it was able to evaluate the risk for more than 20,000 companies and over 870,000 asset locations, scoring each on a zero to 100 scale.