Think wine growers in Australia, ski resort operators in Japan, or fishing and farming communities in the Philippines, whose way of life depends on environmental conditions that are already changing dramatically. In areas that are simply vulnerable to the effects of global warming, insurance premiums stand to rise significantly at the same time as property valuations fall. Some nations are now discussing introducing taxes on meat and plastic packaging, for example – measures that would have been inconceivable just a few years ago – while the rise of everything from vegan foods and ocean-friendly sunscreens to electric vehicles shows that consumers increasingly care about the environmental and social credentials of what they buy.

Drew, J. (2019, November 25). Companies need to wake up to the new normal of climate change. Manila Bulletin, p. 6.