The changing climate is a core strategic concern for us all. Atmospheric concentrations of Co2 have now passed 400 ppm, and the knock-on effect of this can be seen in global surface temperatures.
These changes present an unprecedented source of risk and volatility for businesses. In addition to hotter temperatures, the impacts of climate change include more severe and frequent storms, increased drought, rising sea levels, and loss of species on land and in the ocean.
According to the International Panel on Climate Change (IPCC), global emissions need to fall by 43% by 2030 to limit temperature rises to 1.5 ºC. To help meet this target, countries are applying pressure on companies that operate within their borders. A range of stakeholders, including regulators, investors, financiers, insurers, boards, consumers, and communities are expecting organisations to take action on their contribution to emissions.
To track progress, measurable data points are required. Until recently, there was little in the way of agreed measures for the environmental health of a company and its impact. In response, we now have the Taskforce for Climate-Related Financial Disclosures (TCFD).
With TCFD compliance rapidly becoming mandatory across a number of countries, organisations are having to make investments in how they monitor and manage climate risks. By treating TCFD disclosure as one important outcome from a broader exercise exploring both risks and opportunities coming from climate-related impacts, organisations can realise far greater value.
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 Causes and Effects of Climate Change | United Nations
 Climate Plans Remain Insufficient: More Ambitious Action Needed Now | UNFCCC