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What is the cost of climate inaction? ⚠Economic costs from climate impacts have doubled in the past 20 years. Without bold climate action, climate change will continue to have severe effects on the global economy: Companies could lose up to 7% of annual earnings by 2035, with potential asset losses reaching $560–610 billion annually, particularly in the telecommunications, utilities, and energy sectors. But here is the good news: Climate leadership pays off. By committing to decarbonization, climate adaptation, the private sector can navigate climate risks and unlock vast long-term benefits. For example, businesses already investing in these areas are seeing returns of up to $19 for every dollar spent. 💡 Curious for more? Explore these two new reports by the World Economic Forum: The Cost of Inaction: A CEO Guide to Navigating Climate Risk 🔗 https://bit.ly/3OQc2ef Business on the Edge: Building Industry Resilience to Climate Hazards 🔗https://bit.ly/4fkCbNe