Bank of America Corp. worries flooded homeowners will default on their mortgages. The Walt Disney Co. is concerned its theme parks will get too hot for vacationers, while AT&T Inc. fears hurricanes and wildfires may knock out its cell towers.
As the Trump administration rolls back rules meant to curb global warming, new disclosures show that the country’s largest companies are already bracing for its effects. The documents reveal how widely climate change is expected to cascade through the economy – disrupting supply chains, disabling operations and driving away customers, but also offering new ways to make money.
The disclosures were collected by CDP, a U.K.-based nonprofit that asks companies to report their environmental impact, including the risks and opportunities they believe climate change presents for their businesses. More than 7,000 companies worldwide filed reports for 2018, including more than 1,800 from the U.S.
More disasters will make iPhones even more vital to people’s lives, Apple predicted.
“As people begin to experience severe weather events with greater frequency, we expect an increasing need for confidence and preparedness in the arena of personal safety and the well-being of loved ones,’’ the company wrote. Its mobile devices “can serve as a flashlight or a siren; they can provide first aid instructions; they can act as a radio; and they can be charged for many days via car batteries or even hand cranks.’’