Climate change risks tend to be underestimated – survey

Professional services organisation KPMG identified the six most prevalent sectors in danger of risks from climate change and these were transport tourism aviation healthcare the financial sector and the oil and gas sector.

These sectors scored high on the risks facing the sector (either physical regulatory reputational or litigious) and yet they scored poorly in terms of preparedness to face these risks.

This emerged from the ‘Climate Changes Your Business' survey - KPMG's review of the risks and economic impacts of climate change at a sectoral level.

When considering how businesses report on climate change risks it is striking that businesses consistently appear to gloss over certain climate risks even where they have well established management techniques for dealing with other forms of risk explained KPMG sustainability services associate director Chi Mun Woo.