{"id":302802,"date":"2020-01-14T05:39:54","date_gmt":"2020-01-14T13:39:54","guid":{"rendered":"https:\/\/www.esri.com\/about\/newsroom\/?post_type=wherenext&#038;p=302802"},"modified":"2024-05-10T06:37:40","modified_gmt":"2024-05-10T13:37:40","slug":"wildfire-risk-for-business","status":"publish","type":"wherenext","link":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business","title":{"rendered":"As Wildfire Risk Grows, So Does Business Concern"},"author":501,"featured_media":0,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"sync_status":"","episode_type":"","audio_file":"","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_links_to":"","_links_to_target":""},"categories":[369832,1001,381312],"tags":[333782,404762,414562],"department":[488822],"wherenext-category":[],"industry":[],"class_list":["post-302802","wherenext","type-wherenext","status-publish","format-standard","hentry","category-business-risk","category-commercial","category-cxo-priorities","tag-business-resilience","tag-business-risk","tag-location-awareness","department-sustainability-risk"],"acf":{"short_description":"As wildfires threaten business resilience, risk-aware companies are mapping the hazards in real time.","pdf":{"host_remotely":false,"file":"","file_url":""},"flexible_content":[{"acf_fc_layout":"content","content":"The reality of a more flammable world is showing up in corporate reporting. According to the CNBC article, \u201c<a href=\"https:\/\/www.cnbc.com\/2019\/11\/10\/more-companies-are-flagging-wildfire-risk-as-suppression-costs-climb.html\">A Rising Number of US Companies Are Flagging Wildfire Risk as Suppression Costs Climb<\/a>,\u201d increased wildfires have forced more corporations to add wildfire risk to their investor disclosures. With the <a href=\"https:\/\/www.washingtonpost.com\/weather\/2019\/08\/19\/climate-change-could-cost-us-up-percent-its-gdp-by-study-finds\/\">economic toll of climate change<\/a> predicted to grow significantly, risk-conscious companies will need to mitigate the impact of related disasters, such as wildfires, on the corporate balance sheet."},{"acf_fc_layout":"sidebar","layout":"standard","image_reference":null,"image_reference_figure":"","spotlight_image":null,"section_title":"","spotlight_name":"","position":"Center","content":"<strong>Article snapshot:<\/strong> Faced with mounting uncertainty around wildfires, globally recognized brands are reporting the risk in their 10-K filings for the first time, calling attention to the need for locational and operational awareness.","snippet":""},{"acf_fc_layout":"content","content":"<h3><strong>The Business Costs of a Growing Risk<\/strong><\/h3>\r\nStructural fires caused by faulty wiring, errant machinery, and other factors have long been noted in corporate reporting. Companies that work with disparate supply chain partners know too well <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/gm-maps-supply-chain-risk\/\">how disruptive and costly those incidents can be<\/a>. Now companies are adding the growing threat of blazes that can consume thousands of acres within hours\u2014a reality that darkens the risk profile for modern businesses."},{"acf_fc_layout":"form","form_type":"aside","form_position":"Right","form_title":"THE ESRI BRIEF","form_desc":"A biweekly email connecting business leaders with thought-provoking articles on location intelligence and critical technology trends.","form_button_label":"Sign up now","form_content":"https:\/\/go.pardot.com\/l\/82202\/2017-10-12\/jw1bmb","form_tag":"low-commitment-form\/sign-up-form"},{"acf_fc_layout":"content","content":"As wildfires have increased in the last decade, real estate and insurance firms have been most likely to include such risk in their financials. This year, however, Marriott, Monster Beverage, and 12 other companies in the S&amp;P 500 specifically noted the threat in 10-K filings, according to CNBC. If current trends continue, more companies may follow.\r\n\r\nIn a related article, <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/insurers-assess-climate-change\/\">Changing Hazards Prompt Insurers to Rethink the Location of Risk<\/a>, Andreas Siebert of Munich Re explains how the global reinsurer uses geographic information system (GIS) technology to evaluate the vulnerability of insured properties:"},{"acf_fc_layout":"blockquote","content":"\u201cMore transparency means a better understanding of what the industry is insuring these days,\u201d Siebert explains. \u201cWe have to learn more [about building] construction types, occupancies, the age of buildings\u2014a lot of additional data. We have to bring it together to have the full transparency when we are doing risk assessment.\u201d"},{"acf_fc_layout":"content","content":"Location intelligence, generated by GIS, brings that vast pool of data into a \u201c<a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/location-intelligence-and-corporate-security\/\">single pane of glass<\/a>\u201d to help decision-makers prepare for and in some cases avoid the cost of losses. (See the sidebar \u201cThe Data behind Risk Mapping\u201d for more detail.)\r\n<h3><strong>A Model to Follow<\/strong><\/h3>\r\nAn established form of business intelligence, <a href=\"https:\/\/www.esri.com\/en-us\/location-intelligence\">location intelligence<\/a> is used by executives and other leaders to surface unseen patterns, trends, and predictions."},{"acf_fc_layout":"sidebar","layout":"standard","image_reference":null,"image_reference_figure":"","spotlight_image":null,"section_title":"","spotlight_name":"","position":"Right","content":"<h2>The Data behind Risk Mapping<\/h2>\r\nCompanies that excel at creating real-time location intelligence know that awareness begins with good data. And while that data can be generated by the business itself\u2014through sensors on machinery, GPS trackers in delivery vans, and more\u2014full-fledged operational awareness often stems from a variety of sources.\r\n\r\nFor businesses concerned about fire risk, operations managers might consult <a href=\"https:\/\/maps.nwcg.gov\/\">real-time maps like this one<\/a> from the National Interagency Fire Center (NIFC), then use GIS technology to overlay that risk data with the current locations of employees and facilities. (Here\u2019s an example <a href=\"https:\/\/www.esri.com\/arcgis-blog\/products\/arcgis-online\/mapping\/australia-fires-living-atlas\/\">focused on the Australian wildfires<\/a>.)\r\n\r\nTogether, those data sources create a real-time, 360-degree view of operational risk.","snippet":""},{"acf_fc_layout":"content","content":"Common applications of location intelligence include <a href=\"https:\/\/www.esri.com\/en-us\/industries\/needs\/risk-management\">risk management<\/a>\u2014when decision-makers need to understand where and to what degree facilities, employees, and partners are vulnerable to wildfire risk and other threats.\r\n\r\nExecutives who see risk mapped\u2014with profit and revenue figures attached to each risk\u2014can prioritize adjustments to the company\u2019s asset portfolio. For expanding businesses, GIS can also identify less wildfire-prone regions where they might build facilities or take on new suppliers.\r\n\r\nAs the size of wildfires continues to outpace historical averages, industry analysts predict the emergence of more innovative and economical monitoring measures. According to CNBC, Sempra Energy and Southern California Edison this year deployed a network of HD cameras that broadcast live video of fire-prone areas. The next logical step is to more accurately predict the movement of blazes.\r\n\r\nIn October, cybersecurity company Splunk partnered with wildfire science startup Zonehaven on software that combines controlled burn data with live weather feeds. That mashup could inform fire simulations and detailed evacuation maps for residents and first responders.\r\n\r\nAs more firms recognize the rising threat of these disasters and the urgency of creating operational awareness, location intelligence will become a more prominent resource for fortifying companies against the epidemic of wildfires."}],"references":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top Companies Prepare for Increased Wildfire Risk \u2502 Location Intelligence<\/title>\n<meta name=\"description\" content=\"Wildfire risk is beginning to appear in companies\u2019 10-K filings, signaling a new threat to business continuity. How can data help?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Wildfire Risk Grows, So Does Business Concern\" \/>\n<meta property=\"og:description\" content=\"Wildfire risk is beginning to appear in companies\u2019 10-K filings, signaling a new threat to business continuity. How can data help?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business\" \/>\n<meta property=\"og:site_name\" content=\"Esri\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/esrigis\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-10T13:37:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esri.com\/about\/newsroom\/app\/uploads\/2020\/01\/wherenext-curated-business-risk-increasing-Card-826-x-465.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@Esri\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\/\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business\",\n\t            \"url\": \"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business\",\n\t            \"name\": \"Top Companies Prepare for Increased Wildfire Risk \u2502 Location Intelligence\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\/\/www.esri.com\/about\/newsroom\/#website\"\n\t            },\n\t            \"datePublished\": \"2020-01-14T13:39:54+00:00\",\n\t            \"dateModified\": \"2024-05-10T13:37:40+00:00\",\n\t            \"description\": \"Wildfire risk is beginning to appear in companies\u2019 10-K filings, signaling a new threat to business continuity. How can data help?\",\n\t            \"breadcrumb\": {\n\t                \"@id\": \"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business#breadcrumb\"\n\t            },\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"BreadcrumbList\",\n\t            \"@id\": \"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business#breadcrumb\",\n\t            \"itemListElement\": [\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 1,\n\t                    \"name\": \"Home\",\n\t                    \"item\": \"https:\/\/www.esri.com\/about\/newsroom\"\n\t                },\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 2,\n\t                    \"name\": \"As Wildfire Risk Grows, So Does Business Concern\"\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\/\/www.esri.com\/about\/newsroom\/#website\",\n\t            \"url\": \"https:\/\/www.esri.com\/about\/newsroom\/\",\n\t            \"name\": \"Esri\",\n\t            \"description\": \"Esri Newsroom\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\/\/www.esri.com\/about\/newsroom\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\/\/www.esri.com\/about\/newsroom\/#\/schema\/person\/b890389919572d29641d24fc67eaf376\",\n\t            \"name\": \"Chris Chiappinelli\",\n\t            \"image\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\/\/www.esri.com\/about\/newsroom\/#\/schema\/person\/image\/\",\n\t                \"url\": \"https:\/\/www.esri.com\/about\/newsroom\/app\/uploads\/2017\/04\/Esri-Chris_Chiappinelli_540x540.jpg\",\n\t                \"contentUrl\": \"https:\/\/www.esri.com\/about\/newsroom\/app\/uploads\/2017\/04\/Esri-Chris_Chiappinelli_540x540.jpg\",\n\t                \"caption\": \"Chris Chiappinelli\"\n\t            },\n\t            \"description\": \"Chris Chiappinelli is the editor of Esri\u2019s WhereNext magazine. Through his writing, he explores the intersection of business strategy and location intelligence\u2014and strategic challenges like sustainability, growth, and risk. Prior to joining Esri, Chris managed internal content for PTC, a pioneer in IoT technology, smart products, and augmented reality. Earlier in his career, Chris spent a decade as a journalist covering business and technology news.\",\n\t            \"sameAs\": [\n\t                \"https:\/\/www.linkedin.com\/in\/chris-chiappinelli-ba56814\",\n\t                \"https:\/\/x.com\/chrischip\"\n\t            ],\n\t            \"url\": \"https:\/\/www.esri.com\/about\/newsroom\/author\/cchiappinelli\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Top Companies Prepare for Increased Wildfire Risk \u2502 Location Intelligence","description":"Wildfire risk is beginning to appear in companies\u2019 10-K filings, signaling a new threat to business continuity. How can data help?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business","og_locale":"en_US","og_type":"article","og_title":"As Wildfire Risk Grows, So Does Business Concern","og_description":"Wildfire risk is beginning to appear in companies\u2019 10-K filings, signaling a new threat to business continuity. How can data help?","og_url":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business","og_site_name":"Esri","article_publisher":"https:\/\/www.facebook.com\/esrigis\/","article_modified_time":"2024-05-10T13:37:40+00:00","og_image":[{"url":"https:\/\/www.esri.com\/about\/newsroom\/app\/uploads\/2020\/01\/wherenext-curated-business-risk-increasing-Card-826-x-465.jpg","type":"","width":"","height":""}],"twitter_card":"summary_large_image","twitter_site":"@Esri","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business","url":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business","name":"Top Companies Prepare for Increased Wildfire Risk \u2502 Location Intelligence","isPartOf":{"@id":"https:\/\/www.esri.com\/about\/newsroom\/#website"},"datePublished":"2020-01-14T13:39:54+00:00","dateModified":"2024-05-10T13:37:40+00:00","description":"Wildfire risk is beginning to appear in companies\u2019 10-K filings, signaling a new threat to business continuity. How can data help?","breadcrumb":{"@id":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/wildfire-risk-for-business#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.esri.com\/about\/newsroom"},{"@type":"ListItem","position":2,"name":"As Wildfire Risk Grows, So Does Business Concern"}]},{"@type":"WebSite","@id":"https:\/\/www.esri.com\/about\/newsroom\/#website","url":"https:\/\/www.esri.com\/about\/newsroom\/","name":"Esri","description":"Esri Newsroom","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.esri.com\/about\/newsroom\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.esri.com\/about\/newsroom\/#\/schema\/person\/b890389919572d29641d24fc67eaf376","name":"Chris Chiappinelli","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.esri.com\/about\/newsroom\/#\/schema\/person\/image\/","url":"https:\/\/www.esri.com\/about\/newsroom\/app\/uploads\/2017\/04\/Esri-Chris_Chiappinelli_540x540.jpg","contentUrl":"https:\/\/www.esri.com\/about\/newsroom\/app\/uploads\/2017\/04\/Esri-Chris_Chiappinelli_540x540.jpg","caption":"Chris Chiappinelli"},"description":"Chris Chiappinelli is the editor of Esri\u2019s WhereNext magazine. Through his writing, he explores the intersection of business strategy and location intelligence\u2014and strategic challenges like sustainability, growth, and risk. Prior to joining Esri, Chris managed internal content for PTC, a pioneer in IoT technology, smart products, and augmented reality. Earlier in his career, Chris spent a decade as a journalist covering business and technology news.","sameAs":["https:\/\/www.linkedin.com\/in\/chris-chiappinelli-ba56814","https:\/\/x.com\/chrischip"],"url":"https:\/\/www.esri.com\/about\/newsroom\/author\/cchiappinelli"}]}},"_links":{"self":[{"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/wherenext\/302802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/wherenext"}],"about":[{"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/types\/wherenext"}],"author":[{"embeddable":true,"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/users\/501"}],"version-history":[{"count":0,"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/wherenext\/302802\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/media?parent=302802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/categories?post=302802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/tags?post=302802"},{"taxonomy":"department","embeddable":true,"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/department?post=302802"},{"taxonomy":"wherenext-category","embeddable":true,"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/wherenext-category?post=302802"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.esri.com\/about\/newsroom\/wp-json\/wp\/v2\/industry?post=302802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}