Let’s talk some more about stranded assets

Peter du ToitI'm the founder of FutureWork IQ where I spend my time assisting businesses to improve their climate literacy so as to understand the projected impacts from the expanding climate crisis and how to adapt their workplaces in the face of these impacts.

A few weeks ago the Governor of the Bank of England made these comments about stranded assets due to the climate crisis (https://lnkd.in/dJeECuC)

Recently where we live we had a high tidal coefficient coupled with a storm surge that led to what you see in the picture above, the flooding of a main road in town.

This has happened before, however, now the climate models are showing this will become more frequent, eventually happening every two weeks.

The model shows the areas to be impacted at various levels of sea rise. This is from the report Sea Level Rise and Flood Risk Assessment for a Select Disaster Prone Area Along the Western Cape Coast

Any property in the impacted area is already becoming a stranded asset as many insurance companies are no longer prepared to insure against flooding. The risks are simply becoming too high.

This is playing out in many low lying costal cities and towns globally (Eg. see Underwater—Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate)

Could your business (or career) become a “stranded asset” in the face of the unfolding climate crisis?

This year I highly recommend improving your Carbon Literacy and making mitigation and adaptation decisions based on the science.

Change before you have to.