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‘Urgent’ Need for Businesses to Adapt to Growing Threat from Climate Change, McKinsey Says
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A dog looks out of a house flooded by Hurricane Maria, in Catano town, Juana Matos, Puerto Rico, on September 21, 2017. Hector Retamal | AFP | Getty Images
cnbc.com - by Pippa Stevens - January 16, 2020
KEY POINTS
McKinsey said trillions of dollars in economic activity and hundreds of millions lives are at risk from a changing climate.
“Much as thinking about information systems and cyber-risks has become integrated into corporate and public-sector decision making, climate change and its resulting risks will also need to feature as a major factor in decisions,” McKinsey Global Institute director Jonathan Woetzel said.
BlackRock CEO Larry Fink warned this week that the intensifying climate crisis will bring about a fundamental reshaping of finance, with a significant reallocation of capital set to take place “sooner than most anticipate.”
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