Will climate change sink London businesses?

23 October 2014

When severe weather events, like hurricanes and floods hit overseas, the knock-on effects can adversely impact London’s supply chains. Small and medium sized enterprises (SMEs) are potentially the most vulnerable, but many are unaware of the possible scale of disruption. The London Assembly Economy Committee today heard that retail banks could help SMEs identify and address these kinds of climate change risks. Tom Burke, Chair of E3G, said during the meeting: “Small businesses lack the capacity to deal with the risks of climate change, but who can help them? Retail banks could play a much more positive role in helping their business customers understand these risks and prepare contingencies.” Jenny Jones, Chair of the Economy Committee, said: “Disruption arising from climate change, could potentially threaten businesses and jobs in London. We are a major global city relying on a lot of long supply chains to keep London’s businesses running smoothly. SMEs really need direct help in realising these risks and making concrete plans to adapt. “London should be paving the way in resilience, robust infrastructure and innovative technology and real strategic leadership is needed in this area.” Notes for editors:

Archived webcast available here.

E3G is a non-profit organisation producing evidence and guidance on sustainable development.

Jenny Jones AM, Chair of the Economy Committee is available for interview – see contact details below.

As well as investigating issues that matter to Londoners, the London Assembly acts as a check and balance on the Mayor.

For more details, please contact Lisa Lam in the Assembly Media Office on 020 7983 4067. For out of hours media enquiries please call 020 7983 4000 and ask for the Assembly duty press officer. Non-media enquiries should be directed to the Public Liaison Unit, on 020 7983 4100.

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