For the past 17 years the World Economic Forum has produced an annual Global Risks Report which highlights the short- and long-term risks to business based on the views of 1200 global risk experts, policymakers and industry leaders.
Produced in partnership with Marsh McLennan and Zurich Insurance Group, this year’s report finds that unless the world starts to cooperate more effectively on climate mitigation and adaptation over the next 10 years, we will be facing continued global warming and ecological breakdown. Failure to mitigate and adapt to climate change, natural disasters, biodiversity loss and environmental degradation represent five of the top 10 risks identified, with biodiversity loss highlighted as one of the most rapidly deteriorating global risks of the next decade. It states that short-term geo-economic risks are putting net-zero commitments to the test and calls for collective, coordinated action to tackle the climate crisis.
John Scott, Head of Sustainability Risk, Zurich Insurance Group urges action, stating; “The interplay between climate change impacts, biodiversity loss, food security and natural resource consumption is a dangerous cocktail. Without significant policy change or investments, this mix will accelerate ecosystem collapse, threaten food supplies, amplify the impacts of natural disasters, and limit further climate mitigation.”
Making smart decisions
Now it is more important than ever to ensure that our actions are founded on evidence-based science. Greenwash does nothing to help your organisation or the planet. Now is the time to listen to the experts.
Science-based greenhouse gas emissions reduction targets are aligned with the latest climate science to help limit global warming to well below 2 degrees Celsius above pre-industrial levels, as set out in the Paris Agreement. These targets are developed using a rigorous methodology that takes into account the latest climate science and emissions scenarios, as well as the specific circumstances and characteristics of each organisation.
Tailored advice
Science-based targets provide a clear and credible pathway for organisations to reduce their greenhouse gas emissions and contribute to the global effort to tackle climate change. By setting science-based targets, organisations can demonstrate their leadership on climate action, reduce their environmental impacts, and future-proof their business against the risks associated with climate change.
The Science Based Targets Initiative (SBTi) is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), World Resources Institute (WRI), and World Wildlife Fund(WWF) that provides guidance and support for companies to set science-based targets, backed by a structured framework to help them to meet their goals.
To ensure that you are making changes that will build the resilience of your business and make meaningful changes that will genuinely benefit your business and the environment it is essential to draw on the best knowledge and invest in the latest technology. By looking to the science, you will be sure that the advice you are given is grounded and effective.
A carbon reduction or decarbonisation plan is a set of strategies and actions that an organisation, community, or government implements to reduce its carbon footprint and mitigate the effects of climate change.
Carbon credits, and their differences, is a frequent topic of discussion. When developing a sustainability strategy or communicating about sustainability, its essential for businesses to understand these differences
Pathway to Net Zero, launched in November 2023 is a fully funded support programme helping businesses adopt more environmentally conscious processes and move towards becoming Net Zero.
The future still remains uncertain so considering options to reduce energy consumption to rely less on the grid is becoming more and more necessary.
Climate change has become a key issue for us all. With scientific reports being released every day, we now know more about the changes that are happening to the Earth’s systems.
The impact of the industrial revolution has created a climate where pretty much all our activities have an impact on the environment.
By reducing your organisation’s carbon footprint you can reduce your impact on the environment and resources.
There is a wealth of research being undertaken by the leading academics studying climate change and assessing how we can build climate resilience and reduce risk.
It is important to get good advice to ensure that you avoid the common pitfalls and have a plan that works for you and achieves genuine environmental benefits.
