Businesses lack climate change plans
- EMS ,
- Management ,
- Adaptation ,
- Corporate governance
Less than half of the UK's biggest firms have plans in place to ensure their business can adapt to the impacts of climate change, according to the Carbon Disclosure Project (CDP)
A CDP poll of FTSE 100 companies reveals that, while 80% of respondents agree that the changing climate brings substantial risks to their operations, only 46% have included adaptation plans in their overall business strategy.
The research, carried out on behalf of Defra, concluded that businesses have a poor understanding of the financial impacts of adaptation, and that failing to quantify these risks means they are being left out of corporate plans.
Environment minister Lord Taylor responded to the research by calling on investors to pressurise companies into taking a more strategic approach. “Investors can provide an incentive to businesses to not only consider the long-term risks of climate change, but also the opportunities that can be grasped now,” he said.
The report came as the OECD warned that the impacts of climate change in 2050 will be “colossal” unless urgent global action is taken to improve environmental impacts.
The Paris-based body predicts that with the global economy set to quadruple in size and the worldwide population to reach nine billion, energy demand will increase by 80%, water use by 55% and greenhouse-gas emissions by 50%.
As a result, it predicts that deaths attributable to air pollution will triple, 40% of the world’s population will be living in areas of water stress, biodiversity will decline due to competing needs for land-use and global temperatures rises could hit 3°C–6°C.
In 2021, the World Economic Forum identified extreme weather, climate action failure and human-led environmental damage as being among the most likely risks of the next 10 years.
None of England’s water and sewerage companies achieved all environmental expectations for the period 2015 to 2020, the Environment Agency has revealed. These targets included the reduction of total pollution incidents by at least one-third compared with 2012, and for incident self-reporting to be at least 75%.
Billions of people worldwide have been unable to access safe drinking water and sanitation in their homes during the COVID-19 pandemic, according to a progress report from the World Health Organisation focusing on the UN’s sixth Sustainable Development Goal (SDG 6) – to “ensure availability and sustainable management of water and sanitation for all by 2030”.
The UK's largest defined benefit (DB) pension schemes have received a letter from the Make My Money Matter campaign urging them to set net-zero emission targets ahead of the COP26 climate summit later this year.
The sale of new diesel and petrol heavy goods vehicles (HGVs) will be banned in the UK by 2040 under proposals unveiled in the government's transport decarbonisation plan yesterday.