Italian firms have estimated
climate change risks to their activities as costing over 40
billion euros, the environmental investigative non-profit group
CDP said Wednesday.
But less than one firm in five, the CDP said, is making
sufficient investments to face those risks.
Some 76% of Italian cities see risks linked to climate
change, the report said.
But only one out of four has already completed a risk
assessment and analysis of the vulnerabilities, the CDP said.
Only 12%, it said, has already approved a plan of adaptation.
The CDP Italy Report, presented at the COP25 in Madrid in the
presence of Environment Minister Sergio Costa, analyses 45
Italian firms, among the largest and with the most environmental
impact.
It also looks at 34 Italian cities and regions that make up
over a third of the population in Italy.
The risks most highlighted by the cities are strong
precipitation, waves of heat and cold, and floods.
Venice, Roma and Parma have thr highest risk indicator.
As for the firms, some 37 of the estimated 40 billion is
linked to risks of transformation of the business, as regulatory
changes and market changes, the report said.
Another seven billion euro of potential financial impact hae
been identified as the result of risks of a physical nature,
including exteme weather events such as droughts and floods
which affect business activities.
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