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Balance sheets focusing on bottom line of climate risks

January 14, 2021


Climate change is becoming a bottom-line burden for big business, with profound impacts on fiscal and staffing success. And as C-suites grapple with containing risks linked to environmental issues, green-energy work experience is the new hot commodity.

Studies conducted by accounting giant KPMG and international law firm Eversheds Sutherland found that while corporate leadership is moving toward embracing climate policies, rank-and-file employees are the route to helping CEOs’ attitudes.

Last month the Arizona-based utility Salt River Project demolished its 2.2-gigawatt Navajo Generating Station after it determined it would be “uneconomical” to continue operating the plant.

And one of the U.S.’s newest coal-fired power plants is struggling, according to a report from the Institute for Energy Economics and Financial Analysis. The Virginia City Hybrid Energy Center, built just eight years ago, is “at risk of closure as market and policy forces continue to work against its viability.” 

[Terry Alan Lane]

More: Climate Change Now Key Issue For Boardrooms And Balance Sheets

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