At a recent meeting, the London Assembly’s Economy Committee heard that London’s businesses are failing to adequately invest in suitable climate change risk mitigation strategies.
The Economy Committee were told that large companies have substantial strategies in place to deal with climate change risks; however, SMEs across the capital are generally unaware of the significant threats to their business posed by climate change and severe weather events both in London and to their supply chains abroad.
Jenny Jones AM, Chair of the Economy Committee said:
“It is vital that business owners in London, SMEs and large companies alike, understand the very real risk that climate change and severe weather events, both here and abroad can have on the future success of their companies. But today we heard that SMEs, which account for 90 percent business in the capital, do not have the resources to protect and adapt themselves to the impact of severe weather events.