3 WAYS BUSINESSES CAN SAFEGUARD AGAINST EXTREME WEATHER
The number of category four and five hurricanes worldwide nearly doubled from the early 1970s to the early 2000s . Moreover , both the duration of tropical cyclones and their strongest wind speeds have increased by about 50 percent over the past 50 years .
What risks do these weather changes represent for European businesses ? These kind of extreme weather events have exacted a heavy toll . According to the United Nations , the economic toll of these disasters has reached nearly £ 1 trillion the last 10 years . With the potential damage these events can bring , building resilience should be top of mind for European businesses . If a business is not prepared for extreme weather conditions , it could find itself confronting property damage , which could lead to business interruption and loss of revenue .
This notion of ‘ resilience ’ is increasingly viewed as a competitive advantage because when faced with a catastrophe , those businesses that are prepared to deal with natural catastrophes are the quickest to return to normal operations .
‘ If a business is not prepared for extreme weather conditions , it could find itself confronting property damage , which could lead to business interruption and loss of revenue ’
For severe weather events , evacuations , power outages , inaccessibility , infrastructure and property losses are among the possible headaches . But even less intense weather can cause serious issues , particularly in an organisation ’ s time-sensitive supply chain . For a European company with Asia-based parts suppliers , for example , even a moderate typhoon in the Pacific can have major repercussions on the high street when the firm can ’ t deliver its products on time .
So what steps can businesses take to safeguard their operations from the increased threat of weather related events ?
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