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Most Clean Tech companies not prepared for supply chain disruptions

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While most “clean tech” companies — firms that reduce waste and require as few nonrenewable resources as possible — have experienced a supply chain disruption over the past three years, the majority have neither a supply chain disruption response plan in place nor insurance, according to a survey.

The findings of the survey, which was conducted by Warren, New Jersey-based Chubb Group of Insurance Cos., and by San Francisco-based consulting firm Cleantech Group Inc., are based on an online survey of 300 clean tech executives conducted in June, as well as input from 20 one-on-one interviews during two roundtable discussions, said Chubb, in a statement issued Tuesday. Eighty percent of those surveyed said they have a global presence.

The survey found that 61% of all clean tech companies have experienced a supply chain disruption over the past three years, and that 84% indicated the disruption had a material impact on their business. A total of 70% of companies, however, do not have a written supply chain disruption response plan in place.

In addition, according to the survey, just 11% have obtained insurance, while the same percentage ensure suppliers have business interruption plans in place.