Companies in Japan are likely to win greater benefits than global peers from spending on climate resilienc
e, according to CDP, an environmental disclosure nonprofit.
Businesses in the nation face disruption risks from issues including earthquakes and flooding, while spells of e
xtreme summer heat have seen Japan’s government strengthen safety protections for workers.
Japan-based companies spending on activities to mitigate phys
ical 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. “Japa
nese 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 an
See more beautiful photo albums Here >>>
d environmental goals, almost all businesses that engage with CDP are sticki
ng 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 Initiati
ve, Inc. (VPI), maintains that only one of multiple policies it issued to them is triggered by the claims in the lawsuits. T
he insurer further mainta
ins 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 p
laintiffs allege they were mistreated as children while at the state’s Yo
uth 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.