Climate change could slash company profits by 7% by 2035, says WEF

Companies that ignore climate risks such as extreme heat could face annual losses in profits of up to 7% by 2035. This is nearly half the decline seen during the coronavirus pandemic. This is the conclusion of a study by the World Economic Forum (WEF). The WEF identifies particularly high risks from climate change for the telecommunications industry, utilities, and energy companies. +Is the World Economic Forum in Davos worth all the effort? This is due to the vulnerability of data centres and network infrastructure to extreme heat and water shortages. +Get the most important news from Switzerland in your inbox However, the WEF also sees opportunities. The market for sustainable products could triple to $14 trillion (CHF12.5 trillion) by mid-decade. Suppliers of alternative energy, sustainable transportation, and eco-friendly consumer goods are likely to benefit. Translated from German by DeepL/sp How we work This news story has been written and carefully fact-checked by an ...