Accountancy firm to offer advice on climate change

News Article - 09 June 2009
Category: Business

Financial firm Deloitte has announced that it is to work in partnership with the University of Reading's Walker Institute for Climate Change System Research to study the impact climate change has on businesses.

According to the firm, the recent flooding experienced by a number of areas of the UK demonstrated how extreme weather conditions could potentially have an "immense" effect on certain sectors, such as insurance, mortgage lending and retail.

Dr Lis Gibson, a partner leading the climate change impact services at Deloitte, said the firm was "delighted" to be in a position to offer advice to clients regarding extreme weather.

"There is increasing demand from our clients across a range of sectors for better information and analysis of what sustained and variable climate change could mean to their business in the short, medium and long-term," she remarked.

The Association of British Insurers recently estimated that the total cost of the floods in June and July this year was approximately £3 billion.

According to the body, of the 60,000 insurance claims made, 14,000 were from commercial organisations.

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