CBI calls for clearer data on climate risk to business
Launching a new report: Whatever the weather: managing the risks from a changing climate, the UK’s leading business group said climate change projections should be published in a more accessible format.
It also called for the creation of a new public information bank showing the risk to critical infrastructure. Together these would help firms to plan for rising temperatures and the risks of extreme weather.
Dr Neil Bentley, CBI Director of Business Environment, said: “Many businesses aren’t ready for the changes that could be ahead. The flooding in 2007 had insurance claims totalling over £3 billion and, as our climate changes, it is estimated that annual flood damages alone could cost as much as £22bn by 2020.
“The impact of climate change needs to be made part of on-going risk management and we must also ensure that what we build today is resilient enough to withstand changes to the climate over the next century.
“The Government must help ensure that businesses have the information needed to take action. Most of this data is already in the public domain, but needs to be made available in an easy-to-use format.”
The CBI said that the UK is fortunate to have a relatively strong understanding of what changes to the UK climate will mean over the next century thanks to the work of the Met Office’s Hadley Centre and the UK Climate Impacts Programme.
Through new reporting powers the Government is also collecting useful information on the risk to company assets and the CBI wants to be sure that we make the best use of these valuable resources.
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