The New York Times reported on Sunday, August 18, 2002, that investors are beginning to look for "other possible 'off balance sheet' land mines, including the hidden risks that could be associated with global climate change."
Times reporter Amy Cortese said that Munich Re, a reinsurance company based in Germany, has estimated that global warming could cost $300 billion annually by 2050 in weather damage, pollution, industrial losses and other expenses. These costs are in addition to those imposed from new regulatory burdens, penalities, taxes, and restrictions on products with a high carbon intensity.
The article emphasized the risks that climate change poses to companies in many sectors, and the legal exposure that company executives and board members may face from failure to take timely action.The Times published the article on page 6 of its Sunday business section. To view the full text of the article, please follow the download instructions below.
Download Instructions
To download a copy of the New York Times article, please click here. NOTE: This file is 830 kb in size. Download time will vary according to your Internet connection speed.
NOTE: This document is published in Adobe Acrobat format. To read it, users must install the Adobe Acrobat reader, software that is available for free from Adobe. To download the Adobe Acrobat reader now, please click on the following icon:
