London (CNN Business)Climate change is likely to cost the world’s largest public companies nearly $1 trillion over the next five years. But the opportunities for new products and services to reduce environmental damage could be worth much more. A survey published Tuesday by the charity CDP suggest that growing demand for low-emission products and shifts in consumer preferences could generate over $2 trillion for leading businesses. Climate change could pose ‘existential threat’ by 2050: report The results show that while 80% of the largest companies expect climate change to result in major changes including extreme weather patterns, some firms have not yet studied the issue closely. "Our collective response to climate change is more urgent than ever, and it is clear that corporate action cannot be delayed," Nicolette Bartlett, director of climate change at CDP, said in a statement. "It is hugely encouraging that companies are reporting that the potential value of climate opportunities far outweigh the costs," she added. CDP encourages companies and governments to disclose information related to climate change. It’s part of a coalition of advocacy groups and investors that have been pushing companies to reduce greenhouse emissions . Some 215 of the world’s largest public […]

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