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November 25th, 2011 by mscott
Some of the world’s largest companies suffered multimillion-dollar losses from flooding or drought in the past year, according to a November 16 report from The Guardian. Citing a study from the Carbon Disclosure Project, The Guardian stated that although too much or too little water can affect the profits of large companies, many of those companies remain unprepared for problems likely to arise in the future.
Natural hazards cause widespread losses in dollars and lives, but Mother Nature does not deserve all the blame. Growing human populations and increasingly expensive infrastructure have also contributed to the losses. In short, more people have more stuff for Nature to damage or destroy. For more background, see the Earth Observatory feature The Rising Cost of Natural Hazards.