STORY CONTINUES BELOW THESE SALTWIRE VIDEOSTOKYO - Some 44% of Japanese companies see extreme weather events around the globe hitting earnings, a Reuters survey showed, highlighting the impact of scorching heat waves and torrential rains on firms in the world's third-largest economy.
Climate change poses vast risks to the global economy, experts have warned, including to output and worker productivity. "Infrastructure is likely to be disrupted due to extreme weather conditions, which could result in emergency spending and lower productivity," wrote a manager at a company in the transport sector.
"Investment earmarked for capital expenditure is being diverted towards environmental measures and business continuity plans, which puts downward pressure on earnings," wrote a manager at a machinery company.