Corporate climate change costs ‘could top €890bn’

More than 200 of the world’s largest listed companies forecast that climate change could cost them a combined total of almost $1trn (€890bn), with much of the pain due in the next five years, according to a report.

Even so, the findings by charity CDP suggested many companies still underestimated the dangers as scientists warn that earth’s climate system is on course to hit catastrophic tipping points without rapid cuts in carbon emissions.