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September 20th, 2007
Many Fortune 1000 Companies Not Prepared for Climate Risks
A survey of 101 board-level executives by the Marsh Center for Risk Insights found that, although almost all companies have taken some steps to prepare for catastrophic risks, half of respondents are not taking steps to address how climate change will affect their operations.
The survey asked executives to rank the likelihood of eight risks, including natural disasters, international terrorist attacks, dramatically rising oil prices, global climate change, pandemics, a housing market collapse, emergence of human health and environmental risks associated with nanotechnology and massive water shortages.
However, only 12 percent of respondents felt that climate change was "very likely" to occur, and 50 percent indicated that they did not consider it a looming threat. The only disasters that executives were less concerned about were threats posed by nanotechnology, a global pandemic of disease, and widespread water shortages or pollution.
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