This article was originally published on Climate News Network.
Higher costs of water as a result of droughts and floods linked to climate change are severely affecting corporate financial performance globally.
“Companies worldwide are being warned that taking water preservation measures is now vital, and that those whole fail to act are likely to face mounting financial losses.
The Carbon Disclosure Project (CDP), a not-for-profit organisation that tracks corporate environmental performance, says a combination of droughts and floods linked to climate change, plus a tightening of water regulations, are costing companies billions of dollars.
In a new report, Thirsty business: Why water is vital to climate action, CDP says data supplied by more than 600 companies around the world showed that corporate costs related to water amounted to US$14 billion over the last financial year. These costs include preservation measures put in place by many companies…”
Read on at: Climate News Network.