24 Jan '12, 8pm

Despite Denial, Even Oil Companies Are Planning for Inevitable Climate Change

Despite Denial, Even Oil Companies Are Planning for Inevitable Climate Change

Utilities, the oil and gas industry, agricultural companies and insurers are building assumptions about rising temperatures and extreme weather events into their scenario planning. This is what's being called climate adaptation or climate preparedness. The payoff from investing in adaptation could be substantial. In 2011, insured losses in the U.S. from natural catastrophes, including tornadoes, floods and hurricanes, topped $105 billion, breaking the record of $101 billion set in 2005, the year of Hurricane Katrina, according to Munich Re, the world's largest reinsurance firm. Some of those losses had nothing to do with climate change, but others did.

Full article: http://www.treehugger.com/corporate-responsibility/despit...

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