2Sustain

Regular readers here  know that I use this forum to emphasize not only the risks, but also the opportunities, presented to businesses by climate change. With that in mind, I’m pleased to direct your attention to a new report titled, “Climate Disclosure Project 2008, FTSE 350, Building business resilience to inevitable climate change.”

This document, which was prepared by Acclimatise and sponsored by IBM, explores the climate change challenges facing businesses today and includes examples of best practices for coping with climate risks.

I was also impressed with the report’s analysis of the multiple risks and the opportunities climate change presents. The authors compiled what they call a “Prepare-Adapt” set of questions to help you “take the right steps towards building corporate resilience to inevitable climate change.” The checklist is broken down into two sections: Your Risks and Your Opportunities. Take a moment to ask yourself these thought-provoking questions about how climate change could impact your company:

Your Risk

• What are the operational impacts of climate change on your company?

• Which of your company’s key operating assets are located in areas vulnerable to climate change impacts and what are the implications?

• How sensitive is demand for your products and services to climate change impacts?

• How could current and future climate change regulations and industry standards affect your organization and its reputation?

Your Opportunities

• What new and enhanced existing products and services can you offer your customers?

• What operational benefits could you enjoy from managing your response to climate change?

• How clear and effective are your company’s internal management responsibilities for climate change and your engagement with stakeholders?

• How well structured is your company’s approach for managing climate change?

• How can you ensure your company’s approach is based on robust information and assumptions?

• How can you demonstrate that your company’s climate business resilience plans are realistic and financially viable?

Great questions, aren’t they? And, now, that I’ve whetted your appetite, I hope you’ll check out the full report, available here.

It’s clear that all companies are bound to face direct and indirect impacts from climate change, and I’m grateful for reports like this one, which provide valuable information, as well as something we need to be hearing more: a direct call to action.

Note: The questions above are from the report, titled “Climate Disclosure Project 2008, FTSE 350, Building business resilience to inevitable climate change.” Copyright Acclimatise (Climate Risk Management Ltd) and International Business Machines Corporation, 2009.