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The dovetailing of potentially devastating climate change impacts and urbanization by mid-century is of great concern to municipal leaders. The portion of the world living in cities is slated to rise to two-thirds of the global population (or 6.4 billion), up from 54% today, according to the United Nations. In tandem, the frequency and severity of floods, storms and drought as a result of climate change are expected to rise significantly in the coming decades, particularly in coastal areas, where many large cities are located. Forging preparative responses for these changes has thus taken on a new sense of urgency for government officials, non-governmental organizations and business leaders.
For business, the executive survey, supported by the Rockefeller Foundation, finds that the biggest perceived market and operational risk from climate change is the disruption of energy supplies, which could severely impact on a company’s ability to operate.