Business on the Edge 2024

4. Inclusion of non-listed companies: Privately held companies account for a large proportion of business output across the world, especially in low- and middle-income economies. These unlisted companies include small and medium-sized enterprises, start-ups, scale-ups and unicorns. As they typically face less stringent reporting requirements, data on key metrics, such as the value of fixed assets held, location of assets and climate hazard exposure is not as robust as for listed companies. These companies were therefore excluded from the analysis. If non-listed companies were included in future studies, total fixed asset loss estimations would likely be significantly higher. 5. Assumption of constant assets: The fixed asset loss estimations assume that the value of fixed assets is constant. The value of the property, plant and equipment companies hold clearly fluctuates over time depending on factors such as depreciation and investment; indeed, some assets could become stranded due to climate hazards. Forecasting this trajectory could be included in future studies. Business on the Edge: Building Industry Resilience to Climate Hazards 66