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Photo: Florian Gaertner/Getty Images.

While governments and corporations are starting to protect themselves from the impacts of climate change, Morgan Stanley says private businesses need to do more.

Why now: The investment bank's strategists are recommending companies strongly consider preparing for a world with more frequent and intense weather events, rising sea levels, changes to agriculture and the spread of infectious disease.

"We expect the physical risks of climate change to become an increasingly important part of the investment debate for 2019," Morgan Stanley equity strategists Mark Savino, Jessica Alsford and Victoria Irving said in a research note Wednesday.

The note also highlights a number of worrying statistics.

  • Climate disasters cost the world $650 billion over 3 years and Americans are bearing the brunt.
  • North America absorbed two-thirds of the global cost of climate disasters over the last 3 years.
  • At $415 billion, the price of the disasters is equal to 0.66% of North America's GDP.
  • Near-term disruptions and long-term structural changes present risks to many sectors of the economy.

Go deeper: What your city's climate will be in 2080

Go deeper

Progressives call for swift Boebert punishment

Reps. Alexandria Ocasio-Cortez and Cori Bush (far right) walk through the Capitol last month. Photo: Kent Nishimura/Los Angeles Times via Getty Images

House progressives are seeking concrete punishment for Rep. Lauren Boebert (R-Colo.) as retribution for her incendiary remarks against one of their own, Rep. Ilhan Omar (D-Minn.).

Why it matters: House Democratic leaders continue to consider their options amid the latest ugly incident in their chamber. Republicans are already threatening retaliation after Democrats stripped Rep. Marjorie Taylor Greene (R-Ga.) of her committee assignments and censured Rep. Paul Gosar (R-Ariz.).

4 hours ago - Health

Meta removes accounts linked to COVID disinformation effort by China

Facebook's corporate headquarters campus in Menlo Park, California. Photo: Josh Edelson/AFP via Getty Images

Meta announced Wednesday it has removed over 600 Facebook and Instagram accounts linked to a Chinese influence operation that claimed the U.S. was pressuring the World Health Organization (WHO) to blame COVID on China.

Why it matters: Though Meta said the network was unsuccessful, it marks yet another COVID disinformation campaign instigated by China in an effort to discredit the U.S.

Stacey Abrams launches second campaign for Georgia governor

Photo: Eze Amos/Getty Images

Stacey Abrams, voting rights activist and former 2018 candidate for Georgia governor, is running for the position again in 2022. Abrams would be the first Black female governor in the country.

Why it matters: Abrams caught national attention in 2018 by narrowly losing an election to Republican Gov. Brian Kemp in a state held firmly by the GOP for nearly two decades.