Every year, the company Ingredion buys millions of tons of corn and cassava from farmers and turns them into starches and sugars that go into foods such as soft drinks, yogurt and frozen meals. Lots of things can go wrong along the way. Weather can destroy crops. Machinery can break.
Lately, though, Ingredion’s top executives have been worried about a new kind of risk: what might happen on a hotter planet.
That could be anything, [from] where climate change is impacting the crops we purchase, to water availability driven by climate change,” says Brian Nash, Ingredion’s head of sustainability.
Shareholders worried that climate change could devalue their investments want reassurance, and companies, in turn, want advice from climate experts.
That’s given rise to a field of “climate risk services.” The Danish engineering firm Ramboll, which built its reputation designing bridges and ways to manage traffic, is one of many consulting companies that have sensed a business opportunity. “I just jumped at the chance to get back into doing this,” says Susan Kemball-Cook, one of Ramboll’s scientists.
Read full, original article: As The Climate Warms, Companies Scramble To Calculate The Risk To Their Profits