Anticipating the business impacts of climate migration
Climate change impacts are prompting some people to rethink where they live.
The effects of climate change are here. 2023 was the hottest year on record; global average temperatures were 1.2C higher than the average since 1850.1 With those higher temperatures comes a greater risk of wildfire, drought, flooding, and severe storms.2 2023 saw an unprecedented wildfire season in Canada, impacting 18.4 million hectares versus the 2.5 million hectares average.3 Almost a quarter of the world’s population was living in drought conditions in 2022 and 2023, according to the United Nations.4 Floods in Pakistan in 2022 submerged one-third of the country and displaced millions.5 The United States experienced more billion-dollar disasters in 2023 than ever before.6
