With climate change comes unexpected hazards like floods, wildfires, droughts and more, which cause massive damages to businesses.
California utility PG&E filed for bankruptcy after the 2018 California wildfires left them facing billions of dollars in liabilities. 2019 flooding in the Midwestern United States cost grain provider Archer Daniels Midland $50-60 million.
But how can you prepare for these unpredictable events? Without a crystal ball, no one knows what's going to happen and even if you did, how can you figure out what that would mean for your business? How do you know how massive the damages will be, or what sort of damages they are, until something actually happens?
It seems crazy that information on climate change is so hard to find, let alone understand, when it's going to impact everyone. There are climate models that predict what events are likely to occur and when and where they'll happen, but it almost takes an expert to use those. Some states have or cities have public data available where you can see some of the changes that are predicted to happen in that region. But some of these tools only cover specific climate events, like sea level rise or temperature rise, and in most cases they only tell you what might occur in that area, not how it would affect you as a business! And what about businesses with lots of facilities? What if there isn't publicly available information available for all of their locations?
Information on climate predictions and risks should be available to all businesses for all of their facilities so that they can effectively plan for the future. Having pieces of information scattered across the internet isn't helpful. Particularly when there isn't enough supporting information to help you turn that information into a decision!
At HazAtlas, we bridge this gap and offer you a way to understand not only what your sites will be exposed to, but what that means for your company. What is the financial liability associated with each of those sites. And we don't do this for one climate hazard, we cover everything from extreme rainfall, to heatwave, to drought.
We believe that everyone should be able to prepare for the future, and that starts with understanding it!
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