Climate Change Risk Is Serious Business – Are You Doing Your Due Diligence?

It's been a hot summer. Cities around the world have experienced record-breaking temperatures and heat waves are now being recorded all over the world. In Eastern Canada alone, there have been nearly 100 heat warnings. In Oman, the town of Quriyat registered the highest minimum temperature in the world in June this year: 42.6 degrees for nearly 51 hours. Bushfires have devastated California, reached the Arctic Circle in Sweden, and at the time of writing, are being battled in in northern Ontario.

Climate change is associated with an increased frequency of extreme weather events and the impact on business is obvious, ranging from physical damage to buildings, products, supplies and equipment to reputational risk. Extreme weather events can also halt manufacturing or prevent employees from getting to work, and businesses affected by droughts or pollution can experience water shortages or the lack of drinking water or food, or be more generally impacted by a reduction in