August 8, 2024

By Francisco Navarro, Vice President of EMEA at Quor Group (formerly Brady)

“The 2024 heatwave has seriously impacted commodity markets, highlighting the urgent challenges of climate change that our clients are facing. In agriculture, prolonged heat and water stress are reducing yields of crops like rice and cotton in China, driving up food prices and affecting global supply chains. On the energy front, increased demand for air conditioning is straining power grids, raising the risk of power cuts and pushing up energy costs. Extreme temperatures are also disrupting mining operations, leading to higher costs and prices for metals like copper and aluminium. 

Our clients are adapting by rethinking their sourcing strategies, expanding their supplier networks, building up reserves, and negotiating flexible contracts to better handle climate impacts. They’re also investing in climate-resilient technologies to maintain product quality and incorporating climate risk assessments into their strategic decisions. 

There’s a noticeable shift towards sustainability, with companies adopting greener technologies and more sustainable practices. We’re seeing more clients use Quor Group’s platform to mitigate risks by closely monitoring macroeconomic and climate trends. Our products offer real-time market data analysis, inventory management, and logistics planning, helping companies make informed decisions and better manage risks from market fluctuations and weather conditions. 

Events like these show how crucial it is for companies to build climate resilience. Quick adaptation and investment in sustainable solutions are key to navigating this changing landscape. Continuous monitoring of climate and economic trends will be essential for anticipating future challenges and protecting supply chains.”