Companies are reshaping operations to cope with a changing climate

Major utilities are relocating substations to escape rising waters and wildfires. Manufacturers are establishing redundant production lines to guard against storms that could idle their plants. And a top investment bank is stress-testing portfolios to see if they would survive a warming climate’s wrath.

TPC’s network of companies, which occasionally share resources, can etch metal in five locations. Two sites are equipped to perform plastic-injection-molding operations. Climate risks also are figuring in investment calculations. Charles Schwab warned retail investors last week that the municipal bond market is overlooking the potential impact of extreme weather events.

“The effect of extreme weather events and rapid climate change on businesses’ operations is slowly coming onto radar screens around the country. But it’s a slow evolution. I think the extreme weather events we’re seeing this summer are speeding up the intellectual uptake,” said Susan Crawford, a Harvard Law School professor.

The availability of adequate water supplies in Mexico’s industrial sector is also a worry for General Motors, which has four plants in the northern and central parts of the country producing engines and transmissions for vehicles such as the Chevy Silverado and Chevy Cruze.A future water shortage that interrupts production at one of those sites for one month could cost GM $50 million in profits, the company said in its annual filing with the climate organization.

In November, six New York utilities submitted to state regulators plans to spend a total of $8.7 billion to make the power system more resilient to climate change.

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