My Home State Devastation from Hurricane Florence
Impacts on North Carolina
Hurricane Florence was not too bad in Charlotte where I live - just lots of rain and some brief power outages. However, my relatives in Eastern NC were more impacted. Several of them fled to one relative's home that was on higher ground, but even that home had water coming up to the front door so they were trapped inside the house. Incredible really. There are some solutions for Eastern North Carolina in the short term (few years) but the bigger issues for the area are long term….What will happen to homes and livelihoods in places like Lumberton? Wilmington? New Bern? less affluent rural areas that still have inaccessible washed out roads? Will folks leave forever and abandon these towns?
All photographs above courtesy of CNN Hurricane Alert
An abandoned van on a flooded road near New Bern on 9/14. LOGAN CYRUS/AFP/Getty Images
Here's Why Climate Action Matters
Climate risks are expensive
- $320 billion in economic losses in 2017 were related to climate disasters in the US (2018 report)
- Hurricane Florence estimated to cost $17-22 billion
- Changes in consumer demand, technology and products in a low-carbon economy can be competitive risks (or opportunities).
Sustainability is profitable
- $26 trillion in direct economic gain possible from climate action through 2030 according to 2018 report from The New Climate Economy
- 72% of Millennials are willing to pay more for sustainable products - up from 55% in 2014 (Nielsen Research, 2015).
- Product and technology innovation, expanding markets and resource efficiencies are profit opportunities.
Stakeholders expect accountability
- 86% of Millennials are interested in sustainable investing - that means almost all Millennials, a group that is set to inherit $30 Trillion in assets
- Investors are increasing pressure for disclosure of climate-related risks and opportunities.
- Customers are demanding sustainable business practices.
Three-tiered approach:
Strategy
Seek stakeholder input on how a low-carbon economy impacts your business strategy.
Innovation
Discover new markets, new products and technologies to give you the competitive edge.
Investor readiness
Know the risks and opportunities that climate change presents and investors expect you to address.