Hauke Engel, Per-Anders Enkvist, and Kimberly Henderson – “From the early days of seafaring trade, dealing with the weather has been an integral part of doing business. Today, however, concerns over climate change are taking this to a whole new level, and companies will have to adapt to growing regulatory, environmental, and consumer pressures. This is a daunting prospect. That may explain why, in a survey of S&P Global 100 companies by the Center for Climate and Energy Solutions, only 28 percent said they had done climate assessments, and an even smaller number (18 percent) said they use climate-specific tools or models to assess their risks. But delay is not a strategy. Organizations can benefit by taking action to recognize and even anticipate such climate-related risks as changing government policies, product-preference shifts, and price volatility. There are, in broad terms, six different kinds of climate risks. These can be divided into two interconnected groups: value-chain risks and external-stakeholder risks.”