Climate-proofing business: Strategies for success
Within boardrooms and executive suites, a growing realisation is taking hold – the changing climate has become an undeniable factor shaping the corporate landscape. It’s estimated that $125 trillion of investment is needed by 2050 to meet net zero emissions. This recognition underscores the pressing need to elevate corporate climate resilience as a core business imperative. However, the outcomes of COP28, the latest international climate conference, reveal a concerning gap between global climate ambitions and immediate corporate actions. Only companies adept at identifying both physical and transitional climate risks, seamlessly incorporating them into their strategic and operational blueprints, will be capable of not only weathering the storms of change but also thriving in the new era of sustainability and resilience.
The outcomes of COP28 further emphasise the urgency for corporations to reassess their climate risk management strategies. It’s estimated that 16.9% of global assets worth about US$24.2 billion are at risk due to climate change.
