Brands like Apple and Molson Coors think a future of extreme weather and climate disasters will be profitable
- Major brands are finding ways to make money on the fears surrounding and consequences of climate change.
- In disclosures to CDP - a nonprofit that asks companies about their environmental impact - companies like Apple, Disney, and Philip Morris identified ways that they could profit from natural disasters, extreme weather, and the need to reduce carbon emissions associated with climate change.
- In many cases, brands saw addressing climate change as a way to improve their public image.
In 2018, a devastating report released by The Intergovernmental Panel on Climate Change (IPCC) predicted a future of extreme heatwaves, severe droughts, mass extinctions, and sea-level rise. Under these conditions, the report said, the world could experience $54 trillion worth of environmental damage.
While that scenario might be decades away, companies are already finding ways to profit from humanity's collective fears about climate-related disasters.
Read more: Big Oil claims it's doing its part to combat climate change. A new study finds it's not even close.
In one of the most striking disclosures, Apple noted that iPhones could help people survive in a disaster by offering flashlights and other emergency services. The company estimated that its brand value would increase by $920 million as customers began to rely on iPhones for personal safety.
Other companies saw an upside to warmer temperatures. Molson Coors predicted that the desire for beer would increase as the world experienced more frequent and extreme periods of heat.
Here are some of the ways that major brands think they can make money from climate change.