Research from the British Standards Institute (BSI) has found that global supply chains gained a combined $56bn in extra costs last year, incurred by crime, extreme weather, terrorist threats and the migrant crisis that swept across Europe.

Lack of preparation leaves supply chains in Brazil, China, India and the United States more vulnerable to climate risks than those in Europe and Japan, according to research released by CDP and Accenture. However, suppliers in China and India deliver the greatest financial return on investment to reduce their greenhouse gas emissions and demonstrate the strongest appetite for collaboration across the value chain.