Climate change is predicted to have ramifications across all industries and geographic areas with the severity of impacts, in great part, determined by socioeconomic factors. Like businesses, those communities with fewer resources to build resilience and recover after weather events will suffer the most significant losses. This will, in turn, have ripple effects across entire regions, with consequences for everything from economies to interstate commerce and critical infrastructure.
At The Climate Service, we work with communities through partnerships with for-profit and not-for-profit entities to support climate risk assessment and impacts to various constituents. For example, in partnership with one financial institution, we worked to help one of the largest cities in the United States assess the impact of climate change on its affordable housing resources. We also work to incorporate social factors into our models to more accurately assess potential climate impacts as well as underscore the risks of capital flight.