Climate Change and Corporate Practice: Half Way to Action
Here’s some good news: awareness of climate change in business is high. A CDP – Climate Disclosure Standards Board report finds that eight in 10 companies include at least one board member who oversees climate-related risks. Here’s the down side: only one in 10 companies links compensation for board members and managers to defined targets on how they are tacking climate change risks for their company, reports FT. All of which goes to show that awareness is not translating into corporate practice at the bottom line—which is to say, into effective action directed from the top. Companies have been warned by leading investors that addressing climate change risk will be of increasing importance in the future. Businesses will ignore that message at the peril of their share price.
John Howell, Editorial Director
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