Is Climate Change Now Its Own Industry?

The climate-change industry – especially consulting on preventing, avoiding and preparing for extreme-weather events – is fast growing, explains a $995 report by Climate Change Business Journal, as covered by Insurance Journal. Corporations are conducting risk assessments that cover the next decade or two. Climate-change consulting extends deep into supply chains to avoid disruptions. “The report credits Superstorm Sandy, along with Hurricane Irene, for jump-starting a new market for climate risk assessment and resiliency solutions in the Northeast and the Gulf Coast,” explains Insurance Journal. The United States, China and others are taking steps to reduce carbon emissions in response to the December UN Conference on Climate Change. Scientific research is plentiful, and insurers increasingly expect clients to manage their vulnerabilities. – YaleGlobal