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Illustration: Aïda Amer/Axios

The storylines dominating climate change news are usually doom and gloom, but corporate America sees some new ways to integrate a warmer world into its business models.

Driving the news: That conclusion was gleaned from disclosures from more than 7,000 companies worldwide (1,800 in the U.S.) that were collected by CDP, a London-based nonprofit that asks companies to report their environmental impact.

"Many of those that filed reports with CDP said they believe climate change can bolster demand for their products," Bloomberg's Christopher Flavelle reports:

  • "[M]ore people will get sick. 'As the climate changes, there will be expanded markets for products for tropical and weather related diseases including waterborne illness,' wrote Merck & Co."
  • "More disasters will make iPhones even more vital to people’s lives, Apple predicted."

Axios health care editor Sam Baker rummaged through the reports and found that climate change could be big business for pharma:

  • AbbVie: "Climate change may create a greater need for existing or even new products … higher temperatures and drought conditions are becoming extreme. … Our immunology product line could see an increase in sales as a result."
  • Eli Lilly: "These risks may drive an increased demand for ... our diabetes products."
  • Pfizer: "There could be an increased demand for products related to diseases impacted by climate change."

These financial benefits are, of course, anomalies — most impact will be dire. Axios' Ben Geman points out that companies like Coca-Cola, which worries about water shortages, have long realized the risks to their operations.

  • And a number of companies — including tech giants Apple, Google and Facebook — for years have been increasing clean energy procurement and making emissions-cutting plans and goals.

Why it matters, from Axios science editor Andrew Freedman: Polling indicates that Americans are already recognizing the impacts of global warming in their own backyards, and the CDP disclosures make me think about what might happen once we start to factor climate change into our spending decisions.

  • Intel is worried about water availability for chip production, while reinsurance giants have long worried that extreme weather events from climate change could threaten their bottom line. 

What we're watching: The companies' reports show expected climate-change expenses that could become so big and detrimental that they provoke a real sea change in corporate America: More companies turning to governments and lobbying for policies reducing greenhouse gas emissions.

Go deeper:

Go deeper

1 hour ago - Health

Pfizer-BioNTech: Booster doses more effective at blocking Omicron

Prepared doses of the BioNtech-Pfizer Covid-19 coronavirus vaccine in Germany on Dec. 7. Photo: Thomas Kienzle/AFP via Getty Images

Pfizer and BioNTech said Wednesday that two doses of their COVID-19 vaccine were significantly less effective at neutralizing the Omicron variant in early lab tests, but a three-dose regimen was more effective.

Why it matters: Omicron, which has been labeled a variant of concern by the World Health Organization after being identified by scientists in South Africa last month, has forced vaccine makers to reassess the effectiveness of their vaccines against this specific new form of coronavirus.

Mike Allen, author of AM
1 hour ago - Politics & Policy

Biden unveils "Building a Better America" branding

President Biden speaks on infrastructure while visiting a bridge in Woodstock, N.H., last month. Photo: John Tully/Getty Images

President Biden today launched a new website and unveiled bold new branding as part of a nationwide tour to sell the benefits of his infrastructure package.

Why it matters: The White House says passage of the new law shows the ability to "forge bipartisan consensus and prove our democracy can deliver big wins" even in these toxic times.

3 hours ago - World

Olaf Scholz sworn in as German chancellor, succeeding Merkel

Incoming German Chancellor Olaf Scholz is sworn in by Bundestag President Bärbel Bas in Berlin today. Photo: Sean Gallup/Getty Images

Social Democrat Olaf Scholz was sworn in as chancellor of Germany on Wednesday, succeeding Angela Merkel after 16 years and launching a new era of German and European politics.

Why it matters: Scholz, a center-left pragmatist who served as finance minister and vice chancellor in Merkel's last government, will lead Europe's largest economy in a coalition with the environmentalist Greens and pro-business Free Democrats.