Apr
16
2008

Businesses Need to Plan for Physical Effects of Climate Change, Says New ICF International Report

Changes Bring Both Challenges and Opportunities

 

 

Fairfax, Virginia, April 16, 2008 -

Climate change and its physical effects, including temperature increases, sea level rise, and changes in the intensity and frequency of hurricanes and other extreme events, may negatively impact the future cost and profitability of doing business, according to a new report by ICF International for the Pew Center on Global Climate Change.

Adapting to Climate Change: A Business Approach outlines a practical business approach to analyzing and adapting to the physical risks of climate change and focuses on the first step in assessing climate impacts—understanding the potential risks to business and the importance of taking action to mitigate the risks.

"Thinking about taking action to address the physical effects of climate change is not as daunting a task as it might appear to be for many businesses,” said Frances Sussman, co-author of the report. “As the report shows, a straightforward screening can identify the extent to which the business value chain is at risk from climate change and whether a business may need to take action or even undertake further risk assessment."

The report finds that not all businesses require immediate action, but those at risk—such as those with long-lived capital assets or in cases where long-term decisions regarding geographic location or production process are made—need to examine whether adaptive measures are necessary. Still, according to the report, all businesses face the possibility of property damage, business interruption, and changes or delays in services provided by electric and water utilities and transport infrastructure.

“While climate change can adversely affect businesses, opportunities also may emerge from superior management of the associated risks,” said Randall Freed, co-author of the report. “Companies that identify and analyze emerging risks earlier than their peers will be better positioned to avoid or mitigate potential damages. They will, for example, be less likely to make investment decisions that lock high-value assets into areas vulnerable to rising sea levels, extreme drought, severe weather events, or other projected climate change impacts.”

 

 

About ICF International

ICF International (NASDAQ: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, climate change, environment, transportation, social programs, health, defense, and emergency management markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,000 employees serve these clients worldwide. ICF’s Web site is www.icfi.com.

Caution Concerning Forward-looking Statements

This document may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995—that is, statements related to future—not past—events, plans, and prospects. These statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “guidance,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “seek,” “should,” “will,” “would,” or similar words. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other forward-looking information, and are subject to factors that could cause actual results to differ materially from those anticipated. For ICF, particular uncertainties that could adversely or positively affect the Company’s future results include but are not limited to: risks related to the government contracting industry, including the timely approval of government budgets, changes in client spending priorities, and the results of government audits and investigations; risks related to our business, including our dependence on contracts with U.S. Federal Government agencies and departments and the State of Louisiana; continued good relations with these and other customers; success in competitive bidding on recompete and new contracts; performance by ICF and its subcontractors under our contract with the State of Louisiana, Office of Community Development, including but not limited to the risks of failure to achieve certain levels of program activities, termination, or material modification of the contract, and political uncertainties relating to The Road Home program; uncertainties as to whether revenues corresponding to the Company’s contract backlog will actually be received; the future of the energy sector of the global economy; our ability to attract and retain management and staff; strategic actions, including attempts to expand our service offerings and client base, the ability to make acquisitions, and the performance and future integration of acquired businesses; risks associated with operations outside the United States, including but not limited to international, regional, and national economic conditions, including the effects of terrorist activities, war, and currency fluctuations; and other risks and uncertainties disclosed in the Company’s filings with the Securities and Exchange Commission. These uncertainties may cause ICF’s actual future results to be materially different than those expressed in the Company’s forward-looking statements. ICF does not undertake to update its forward-looking statements.

For Immediate Release
Polly Shannon
1.703.934.3144

 
 
 

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