TORONTO — A new survey of business leaders finds the vast majority are concerned that climate change will hit their operations this year while more than half report that it's already affected profits.
The survey released Wednesday found 56 per cent had seen profits affected last year by extreme weather events made more likely by climate change, whether it was forest fires, flooding or extreme heat.Around half said operations were directly affected, with similar numbers reporting worker productivity and supply chains being disrupted.
She said that while climate change has the challenge of being a long-term shift that makes it harder to spur action, perceptions need to change.The survey was conducted between June 5 and 14 using Sago's business research panel. A little over half of companies surveyed had revenue of under $500 million and under half had over, while no companies had under $10 million in revenue.
Along with insurance, there's also shifting policy and other implications for business, making it all the more important they prepare now with climate risk assessments and other measures, said Davé.Parking under an overpass in severe weather is 'spectacularly dangerous' An 'indoor waterfall' at Union Station: Downtown Toronto flooded as severe storm disrupts life in the region