Big Business Says It Will Tackle Climate Change, but Not How or When

Big Business Says It Will Tackle Climate Change, but Not How or When

In Davos, business leaders were newly vocal about the risks of climate change, though they gave few details about how they would reform their business practices.. The fresh urgency from the business community comes as the window of time to avert the worst impacts of climate change is rapidly closing, according to numerous scientific reports.. And while critics blame big business for decades of inaction, as well as the active suppression of climate science, many major companies now acknowledge the immediate need for change.. A report the week from the Bank for International Settlements, which represents central banks, said climate change could cause the next financial crisis .. Despite talk of the risks, few companies and investors provided details at Davos on how they would rapidly transition away from an economy based on fossil fuels.. Just a fraction of global businesses currently disclose the financial risks posed by climate change..