Aramco Faces Serious Risks From Climate Change, Report Says - Bloomberg

Aramco Faces Serious Risks From Climate Change, Report Says - Bloomberg:

Climate change poses a serious risk to Saudi Aramco’s long-term business as rising sea levels and temperatures could damage infrastructure, curb productivity and even halt some of its operations.

Sea level rises pose the biggest threat to Aramco’s business and may lead to some of its refining facilities being underwater in the next few decades, making it more difficult for the company to operate, the Paris-based consultant Callendar, said in a report.

“The southern part of Yanbu will probably be submerged within the coming decade,” Thibault Laconde, Callendar chief executive officer said in an interview. “Aramco have acknowledged that climate change is a risk but were vague. Is there something most people seem to be missing? They have a responsibility to assess the risk and I don’t think they are doing it.”