A group of 215 of the world’s biggest companies representing nearly US$17 trillion in market capitalisation has valued the climate risks to their businesses at almost US$1 trillion – with many of these risks expected to hit within the next five years. The report outlined several key findings related to the way in which companies are reporting and analysing their climate-related risks, but the most important takeaway from the report was found in the analysis of 500 of the world’s biggest companies with over half of these risks as being “likely/very likely/virtually certain”. The report also showed that over 80% of the world’s largest companies see major climate impacts – including extreme weather patterns, rising global temperatures, and increased pricing of greenhouse gas emissions – while 225 of the world’s 500 biggest companies reported climate-related opportunities which represent potential financial impacts totalling over US$2.1 trillion – the majority of which is driven by the potential increase in revenue due to demand for low emissions products and services.
Either they drank the Koolaid or, more likely, they're lining up for government giveaways and concessions.