Companies in Japan are likely to win greater benefits than global peers from spending on climate resilience, according to CDP, an environmental disclosure nonprofit.
Businesses in the nation face disruption risks from issues including earthquakes and flooding, while spells of extreme summer heat have seen Japan’s government strengthen safety protections for workers.
Japan-based companies spending on activities to mitigate physical climate risks could generate a return of $12 for every $1 they invest, CDP said, citing an analysis of data reported by the firms.
“That is something quite remarkable because the global average is only six times,” Sherry Madera, CDP’s chief executive officer, said in an interview in Tokyo. “Japanese companies are actually at the forefront of thinking about how is it that risks and opportunities are being surfaced.”
While high-profile global firms including Walmart Inc. and the Coca-Cola Company have deferred or revised climate and environmental goals, almost all businesses that engage with CDP are sticking to their planned targets, according to Madera.
“What we’re seeing is a continued push towards the climate targets that are set,” Madera said in the Friday interview. “Less than 4% of CDP’s companies have changed their targets.”
About 24,800 global companies disclosed data on their environmental impact to the nonprofit last year.
hiladelphia Indemnity Insurance Co., the insurer for Mount Prospect Academy and the Vermont Permanency Initiative, Inc. (VPI), maintains that only one of multiple policies it issued to them is triggered by the claims in the lawsuits. The insurer further maintains that this abusive conduct liability is in danger of being exhausted by defense costs before even one case goes to trial.
In the individual lawsuits against the service organizations, the plaintiffs allege they were mistreated as children while at the state’s Youth Detention Center (YDC) and/or at private contractor locations like those operated by Mount Prospect Academy and VPI, which provide educational, therapeutic, and residential services to children.