Extreme weather events such as flooding, heat and drought are significantly impacting the businesses of 80 per cent of corporates, financial service providers and investors in Africa, Asia and the Caribbean. This is up from just 68 per cent in 2022, according to the 2023 Emerging Economies Climate Report launched this week by British International Investment.
Approximately 60 per cent of companies, institutions and funds surveyed for BII’s third annual report have experienced an extreme weather event (flooding, drought or heat), but this figure rose to 72 per cent for corporates.
