The World Economic Forum recently published its Global Risks Report 2023, which surveys experts on the main risks for the world in the next two and ten years. The business sector surveyed considers that of 10 risks, 5 are associated with the effects of climate change for businesses The risks are: extreme weather and environmental disasters, failure to mitigate climate change, natural resource crises, and failure of adaptation measures. It is becoming increasingly strategic and urgent to manage the impact of climate risks on business.
What can companies do in the face of this scenario?
As a first step, identify the risks they face in order to manage them and, from there, build more resilient and prosperous organizations. However, the Latin America Climate Action Report 2022, publication by Libélula in partnership with business associations in the region, indicates that the Latin American private sector is not prioritizing this analysis: only 22% of the companies surveyed have identified and are managing the risks and opportunities presented by climate change for their businesses.
For the study, 2023 CxO Sustainability Report: Accelerating the Green TransitionDeloitte and market research firm KS&R surveyed more than 2,000 senior executives in 24 countries, across a wide range of industries and company sizes, from $500 million in revenue to more than $10 billion. Respondents report that key issues already affecting their businesses include resource scarcity, changing consumption patterns and carbon taxes.
