by Global Risk Insights
Financial Sense
Volatile space weather may sound like a far-fetched business risk but is, in fact, inevitable. Without adequate preparation, trillions of dollars in global economic damages could follow.
Risks associated with extreme weather events are well known. However, many businesses are unaware of the costs and odds of space weather. Volatile solar weather or coronal mass ejections (CMEs) result in drastic spikes in electromagnetic and radiation levels. The results of these CMEs can have highly disruptive and costly ramifications for the global economy.
Space Weather Is No Storm in a Teacup
CMEs are tsunamis of solar particles that can disrupt and destroy GPS and communication satellites.