Starting a new year in our climate-adjusted reality means first reckoning with the costs of the last one. This early in January, the toll paid in lives and dollars from another record-breaking span of fires, floods, and heat waves is still being tallied — but is only likely to climb higher as the ripple effects spread.
For most US corporates, while their financial years ended with the flipping of the calendar, it will be months before we get a full picture of how extreme weather shocks hit their bottom lines. Still, with Swiss Re estimating that natural catastrophes cost some US$89bn in insured losses in the US last year, many firms are likely to report at least some impact once annual results start coming in.
Until then, insights from October, November, and December corporate earnings calls offer a window into how prominently (or not) climate risks featured in executives’ investor communications — and how strongly adaptation is being positioned as a business-critical priority.
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