Climate strategy and the green economy
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Most large companies now see carbon management and energy efficient as integrated parts of their environmental management system. However, climate change still remains an issue that is largely viewed on the side of the creation of long term business value. If businesses understand that climate change is a strategic issue then this means we need to think about climate change risks and opportunities the same way we think about other business risks and opportunities.
When developing climate change strategy we help businesses assess how climate change may affect them, and make decisions that allows them to mitigate climate risk and maximise related opportunities.
Our approach is based on the following proposition:
- Dual climate strategy - short and long term
We help business rethink the timeframe they use in their corporate risk assessment and strategy processes. Most companies tend to focus on short to medium term risks, typically three to five years. Because the effects of climate change occur over a longer time frame, a long term perspective will reveal important climate change-related risks which are likely to be overseen by an analysis based on a three to five years horizon.
- Integrated business and climate change strategy – future proof business
We help businesses revisit their capital investment processes from a climate change perspective. For most companies, the only opportunity to future-proof their businesses and create longer term value is when they invest capital, whether into new projects, new products or upgrading existing equipment. If climate change is taken into account in these decisions it maximizes the likelihood that companies will make decisions that do not result in stranded assets or lost revenues because of regulatory or other action on climate change, and will avoid the need for extensive retrofits at a later date.
- Build strategies that creates organizational change and knowledge on climate change
We help businesses identify the key directions relevant for their business that transform their strategies into action. A low carbon organizational culture is fundamental for the transition to a low carbon and green economy. Effective, integrated climate and business strategies which set the appropriate directions enable the necessary cultural changes for the transition to a future-proof business.
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.