Sunday, 4 July 2010

The risks of peak oil and climate change spelt out to businesses

Sometimes a report comes out that is so significant it is really worth shouting about. Lloyds of London are one of the oldest and largest insurance companies in the UK and operate all over the world. As insurance is all about managing risks, Lloyds have a team dedicated to predicting trends and risks on global issues, called 360 Risk Insight.

Their latest report is called Suatainable Energy Security, co-authored with think tank Chatham House, and is available to download for free here.

What is so astonishing is that it could have been written by a team from Transition Network. The language used does not beat about the bush, laying down in very stark terms that energy security is an issue that every business needs to be taking very seriously.

In future the effects of depleting fossil fuel reserves will be compounded by rising demand and falling availability.

Businesses can now be under no doubt about the risks posed by both climate change and depleting resources, in particular peak oil.

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