Even as the world copes with the coronavirus disruption, businesses must prepare for the adverse effects of continuing climate change risks. CEOs and CFOs across the world are aware of the risks that come from natural disasters, but few are prepared for the financial impacts, according to the 2020 CEO/CFO Climate Risk Survey from the insurer FM Global.
FM Global is a mutual insurance company that works with clients to alleviate, maneuver and predict risks. Engine Insights, a marketing and research analytics firm, helped FM Global to create an online survey in February that revealed companies’ relationships with climate hazards. The organization recruited 150 CEOs and 151 CFOs at the largest companies in the world to participate in the study.
Survey respondents worked at leading companies making over $1 billion in revenue that represent regions equally across North America, Europe and Asia Pacific. These companies see high ROIs and should be taking action to preserve their hard work. The coronavirus pandemic contributed to negatively impacting funds and highlighting the ways natural disasters can affect businesses.
Source: Spend Matters