Coke, Nike Call Climate Change ‘Commercial Threat’
From EnvironmentalLeader.com | Published on January 27th, 2014
Coca-Cola and Nike are among the global companies that have acknowledged that climate change is a major threat to commerce and adapted their business practices as a result, the New York Times reports.
Coke’s turning point came in 2004 when the beverage giant lost an operating contract in India due to water scarcity. After a decade of “increasing damage” to its balance sheet, in the form of shortages of water, sugar cabe, sugar beet and citrus needed to produce its soda, the company has fully embraced the idea of climate change as an economically disruptive force, the paper reports.
The company is now part of an increasing number of companies that see climate change as a force that contributes to lower gross domestic product, higher food and commodity costs and a problem that can also disrupt supply chains and lead to financial instability.
At the World Economic Forum in Davos, Switzerland, all of Friday was set aside to talk about climate change and its commercial implications.