Climate change strategy for business

Share via Email Business is facing a fork in the road. It can either adopt climate friendly policies or it can face the consequences. Grant Faint Most large companies now see managing their greenhouse gas emissions and minimising energy consumption as integral parts of their environmental management practices.

Climate change strategy for business

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. Test robustness of strategy across different business environments.

If we frame climate change as a strategic issue, the logical conclusion is that companies should think about climate change-related risks and opportunities In a similar manner to other business . Climate change is one of the most pressing challenges facing the world today. And increasingly, it's become a crucial business issue. How will you and your company respond? In Climate Change: What's Your Business Strategy? Andrew Hoffman and John Woody provide concise and reliable advice to help you answer this question/5(2). Being able to react and adapt to climate change is important for financial success and organizational sustainability. Explore new resilient business models that account for climate change in your business strategy.

Adjust prudently to changes in the business environment. By using our own energy planning model, we gain insight into various scenarios impacting future supply, demand and prices of key commodities.

This enables us to understand the range of risk around commodity prices, and the price risk associated with various GHG reduction scenarios. We can then test our current portfolio of assets and investment opportunities against these future prices and see where weaknesses may exist, assisting with our capital allocation.

Analyzing and modeling potential outcomes is not the end of the process. We also have to decide when we should act and which actions to take, which can differ depending on the mix of technological change and government action.

Business Strategies to Address Climate Change

To help our decision-making, we set up a scenario monitoring system to identify crucial signposts that would indicate whether we are moving toward one scenario or another.

We have a cross-functional team within the company who enters events to a centralized system so that we can check, on a quarterly basis, movement toward any scenario.

Climate change strategy for business

The scenario process also allows us to respond with appropriate actions that will create value in all future scenarios, such as: Lowering the cost of supply. Shortening project cycle times. Developing technology that reduces both costs and GHG emissions. Economically reducing product losses.

Recycling, re-using and renewing inputs, such as water and heat.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. Climate Change in Implications for Business 3 assessments on all aspects of climate change and its impacts, with a view of formulating realistic.

Climate change is one of the most pressing challenges facing the world today.

If we frame climate change as a strategic issue, the logical conclusion is that companies should think about climate change-related risks and opportunities In a similar manner to other business . 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. An efficient alternative is to join one of the many industry or activist groups or trade associations that are weighing in on these myriad negotiations, such as the Chicago Climate Exchange, USCAP, the Pew Center’s Business Environmental Leadership Council, the Global Roundtable on Climate Change, or the World Business Council for Sustainable Development.

And increasingly, it's become a crucial business issue. How will you and your company respond? In Climate Change: What's Your Business Strategy? Andrew Hoffman and John Woody provide concise and reliable advice to help you answer this question/5(2).

Climate change strategy for business

On September 15, , Governor Gina M. Raimondo signed an Executive Order appointing a Chief Resilience Officer to drive climate resilience efforts across the state, both within government and in collaboration with business, academic, and nonprofit partners, with the mission to develop a statewide Climate Resilience Action Strategy to be submitted to the Governor by July 1, Improved energy efficiency has emerged as a key component of corporate climate change strategies.

Companies participating in the global EP initiative pledge to double their energy productivity (dollar of output per unit of energy), which has the potential to save more than $2 trillion globally by Business and Climate Change Adaptation: toward only around one-third of the companies reported that their climate change strategy has a “strong emphasis” on addressing climate change risks and/or responding on business engagement in climate change adaptation (see text box below).

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