Companies Urged to Fortify Supply Chains from Climate Change Disruption
New report from HSBC and TSC helps companies understand how and why climate change risks should be addressed within supply chains
NEW YORK & SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The Sustainability Consortium (TSC) and HSBC released a new report today urging companies to prepare supply chains for the risk of climate change disruptions that threaten to raise costs and jeopardize their ability to meet customer needs.
Co-authored by Dr. Christy Slay, TSC Director of Technical Alignment and Dr. Kevin Dooley, TSC Chief Scientist and faculty at Arizona State University (ASU), with funding and support from the HSBC Centre of Sustainable Finance, Improving Supply Chain Resilience to Manage Climate Change Risks warns that climate change will result in more extreme weather events and continued sea-level rise continue to disrupt supply chains configurations with increasing more frequency. Supply chain disruptions from climate change can increase the cost or lower the quality or quantity of supplies provided to a manufacturing by its suppliers.
Dooley states, “We all see the myriad of supply chain disruptions occurring during the current coronavirus pandemic. Unfortunately this prefaces the types of challenges that supply chains will face in the future from increasing climate change. Now is the time to create more supply chain resilience.”
“As companies worldwide are in the midst of dealing with COVID-19’s impact on their business operations and their supply chains, current events put in sharp relief the impact of supply chain disruptions on a global scale,” said Patricia Gomes, Regional Head of Global Trade and Receivable Finance (GTRF).
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