found that human-caused extreme heat cost the global economy as much as $29 trillion between 1992 and 2013. A differentfrom the Climate Impact Lab found that higher temperatures could reduce the average income globally by nearly a quarter by 2100 compared to a no-climate-change scenario.
Where does this all leave companies? Those with adequate resources are building programs to address heat risk. Walmart, for example, is assessing its supply chain to ensure it can bounce back from extreme weather—including heat stress—as part of a comprehensive climate program. Beyond the week-to-week, month-to-month impact of heat, it’s also important to consider the role businesses can play in avoiding the worst possible heat. By cutting their own carbon emissions—and pushing a bigger societal shift toward a low-carbon economy—companies not only protect their own growth prospects but also the wellbeing of all of society.