While it is undoubtedly true that global climate change is going to inflict untold pain on every living thing on this ol’ blue marble, we note with pride that American ingenuity wants to take that rainy day and suddenly make it seem worthwhile!
Bloomberg tells us the bright side in their story entitled, Corporate America Is Getting Ready to Monetize Climate Change
“Climate change isn’t all downside for the largest U.S. companies. Many of those that filed reports with CDP, formerly known as the Carbon Disclosure Project, said they believe climate change can bolster demand for their products.
- Alphabet Inc’s Google: “If customers value Google Earth Engine as a tool to examine the physical changes to the Earth’s natural resources and climate, this could result in increased customer loyalty or brand value,” Google wrote. “This opportunity driver could have a positive impact on our brands.”
- Apple: “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.’’
- Home Depot: “predicted that its ceiling fans and other appliances will see “higher demand should temperatures increase over time.”
- Pill-popping Merck: “As the climate changes, there will be expanded markets for products for tropical and weather-related diseases including waterborne illness.”
- America’s most hated bank, Wells Fargo: “preparation for and response to climate-change induced natural disasters result in greater construction, conservation, and other business activities,” adding that it “has the opportunity to provide financing to support these efforts.”
So turn that frown upside down, shareholders, the sky is literally the limit!
Oddly, when Bloomberg asked many of these companies for comments on the article, none accepted the opportunity.