We’ve broken the rule adopted by our canine friends—of not soiling the place where they sleep (unless they’re sick or incontinent, but that’s a different blog). We took that to mean our own back yards, businesses and country. And while we may have kept them nice and tidy, the trouble is, we didn’t realize that with globalization every spot on the planet would be our back yard.
This means there is no place to hide from our pollution of the skies and oceans. Carbon emissions and plastic stay around for a long, long time.
A report on climate change released yesterday by Lloyd’s paints a picture of potential devastation—rising temperatures and sea levels, scarcities of water and cultivatable land, diminishing food supplies, volatile weather patterns and mass migrations from the developing to the developed world because of climate impact, especially on countries near the equator.
According to the report, available on the Lloyd’s Web site, the Intergovernmental Panel on Climate Change (IPCC), predicted in 2007 that by the year 2100 temperature rise would range from 1.8°C (35.2 F) to 6.4°C (43.5 F). The lower number would mean moderate disruption, but with more frequent extreme weather events and possible submergence of low-lying areas. The higher number, however, would result in most of the existing farmland on the planet turning into unusable desert.
As if this weren’t bad enough, newer findings have led some scientists to conclude that IPCC predictions may be low, the report said.
Lest we think a degree here and there is nothing to cause alarm, John Holdren, Ph.D., chief scientific adviser to President Obama, quoted in the report, gives it some perspective:
“People really need to understand that the average global surface temperature is like the temperature of your body—and if you have a fever of 40.5°C (104.9 F), even though that’s only three and a half degrees above normal, it’s potentially fatal. Everything that is expected to result from global climate change driven by greenhouse gases is not only happening, but it’s happening faster than anybody expected.”
Lloyd’s issued a call to action by businesses and risk managers, especially those in industries such as agriculture. Among other things, efficiency and conservation of water use needs to begin now.
Richard Ward, Lloyd’s CEO said businesses will be increasingly impacted, making it critical for companies and their insurers to understand the issues and reflect them in their business plans and approach to risk management. He also stressed input from the private sector for creative solutions.
Risk managers I have met are very good at what they do, and I imagine they are making plans for various scenarios. Hopefully no one is denying the possibilities as that could be disasterous.
My question: is your company planning for global warming scenarios, how is it doing so and is it doing enough, in your opinion?
