Climate change strategy for business

Author s Andre de Fontaine The past several years have seen a steady transformation of business attitudes and behavior on climate change.

Climate change strategy for business

Mother Jones counted some 40 ExxonMobil-funded organization that "either have sought to undermine mainstream scientific findings on global climate change or have maintained affiliations with a small group of "skeptic" scientists who continue to do so.

It was a leading member of the Global Climate Coalition. The group suggested that such studies could form the basis for eventual legal action. Several companies have formed or invested in electric substitutes for standard automobiles.

In the climate-change context, reputation risk can be understood as the probability of profitability loss following a business’s activities or positions that the public considers harmful. A poor reputation on climate can hurt sales through consumer boycotts or local community protests. Why Big Business Is Taking Climate Change Seriously “A lot of them are looking at the shift in the conversation and thinking now is the time to start.” The threat climate change poses. In the climate-change context, reputation risk can be understood as the probability of profitability loss following a business’s activities or positions that the public considers harmful. A poor reputation on climate can hurt sales through consumer boycotts or local community protests.

There has also been greatly increased interest in personal rapid transitwhich applies system engineering principles to reduce energy use, eliminate traffic jams, and produce an acceptable substitute to replace cars, all at the same time. Most systems fully meet Kyoto Treaty carbon emission goals now, 60 years ahead of schedule.

Vectus and Suncheon S. Korea signed a memorandum of understanding to install a system. Media coverage of climate change In the UK, some newspapers Daily MailDaily Telegraph are significantly skeptical, while most others with varying enthusiasm, The Independent giving it most prominence support action on global warming.

Overall, British newspapers have given the issue three times more coverage than US newspapers. The CEO of the company James Murdoch son of Rupert Murdoch and heir apparent for the News International empire is a strong advocate of action on climate change and is thought to be influential on the issue within the wider group of companies, The Sun announced it was "going green" and now covers the global warming issue extensively.

Action improves corporate image and better aligns corporate actions with the environmental interests of owners, employees, suppliers, and customers. Action also occurs to reduce costs, increase return on investments, and to reduce dependency on uncontrollable costs.

Climate change strategy for business

Increased energy efficiency[ edit ] For many companies, looking at more efficient energy use can pay off in the medium to long term; unfortunately, shareholders need to be satisfied in the short term, so regulatory intervention is often required, to encourage prudent conservation measures.

However, as carbon intensity starts to show up on balance books through organizations such as the Carbon Disclosure Projectvoluntary action is starting to take place. Recently there has been a spate of companies acting to improve their energy efficiency. Possibly the most prominent of these companies is Wal-Mart.

Wal-Mart, the largest retailer in the US, has announced specific environmental goals to reduce energy use in its stores and pressure its 60, suppliers in its worldwide supply chain to follow its lead.

Use of renewable energies[ edit ] Main article: Renewable energy commercialization In Augustthe largest gathering of ministers in the history of the world met at the World Summit on Sustainable Development in Johannesburg.

One result from WSSD was the formation of to carry forward the international dialogue on sustainable energy and its role in the energy mix.

Business Strategies to Address Climate Change

For the business community, the economic advantages are also becoming clearer.In the climate-change context, reputation risk can be understood as the probability of profitability loss following a business’s activities or positions that the public considers harmful.

A poor reputation on climate can hurt sales through consumer boycotts or local community protests. Why Big Business Is Taking Climate Change Seriously “A lot of them are looking at the shift in the conversation and thinking now is the time to start.” The threat climate change poses.

The companies that will be best positioned to respond to the inevitable business and societal stresses imposed by climate change will be those that have recognised climate change as a strategic driver of business value, that have taken a longer term view of the business implications of climate change, and that have built climate change into their capital investment decisions.

How companies can adapt to climate change | McKinsey

Scenarios in the Capital Planning Process We utilize scenarios in our strategic planning process to: Gain better understanding of external factors that impact our business. Business strategies for climate change Huge value is at stake. The winners will be companies that reposition themselves to seize the opportunities of a low-carbon future.

Per-Anders Enkvist, Tomas Nauclér, and Jeremy M. Oppenheim 1 According to the Fourth Assessment Report (issued in ) of the Intergovernmental Panel on Climate IPCCChange ().

Business action on climate change includes a range of activities relating to global warming, and to influencing political decisions on global-warming-related regulation, such as the Kyoto Protocol.

Climate change strategy for business | Guardian Sustainable Business | The Guardian