By Hugh Bowring
Businesses no longer need to be convinced that the world is changing at an alarming rate. That’s old news. Today’s companies understand that global warming is happening now, that weather patterns are increasingly unpredictable and that millions are at risk from rising sea levels in some parts of the world and water shortages in others.
After the 2015 Paris Agreement, businesses also know that in many countries political support for taking action on climate change is growing. Even in countries where political action is stagnating, there is a significant discerning, well-informed and increasingly worried electorate. Where once the cost of inaction was outweighed by the cost of action, it’s a very different story today.
What is less well understood is how these factors — climate change, climate regulation and customer demand — will affect their businesses and what they, as companies, need to do to safeguard the future of their operations.
So how can a business capitalize on the opportunities, mitigate the risks and navigate its way through so much environmental, economic and social uncertainty?