Extreme weather could cost global sports industry $500B by 2030
A new report says climate change could hit the global sports industry hard, with extreme weather possibly causing over $500 billion in losses by 2030.
Outdoor sports—where most of the big money comes from—are especially at risk from things like heatwaves and floods.
Tony Simpson from Oliver Wyman points out that while sports can bring people together, the industry now has to step up and tackle these environmental challenges.
Impact on contracts and investments
We're already seeing events like the Tour de France affected by heatwaves, and UK community teams losing money when bad weather cancels games.
Because of this, more contracts are starting to include clauses for weather-related disruptions.
There's also a growing push for "impact investing"—putting money into projects that help both the planet and the bottom line—to help protect the future of sports.