Severe weather, extreme temperatures, and changing weather patterns have affected commodity prices, disrupted supply chains, damaged plants and equipment, and hurt consumer demand.
For restaurant owners, farmers, auto suppliers, insurers, real estate developers, and other business leaders, climate change is having a measurable impact on today’s bottom line—and trends suggest those costs will increase.
The good news? Shifting from coal to cleaner sources of energy should have little impact on business’s operating costs. Energy represents less than 1 percent of a typical business’s spending, and shifting to cleaner energy will increase that cost by about 3 percent in the near term. In other words, if it costs Company X $100 to manufacture its product, the Clean Power Plan would increase Company X’s cost by about 3 cents. Over the medium and long term, the CPP will lower utility costs.