Where government have failed and the private sector remains oblivious, new voices propose innovative solutions ahead of Cop21
Is your company prepared for the consequences of climate change in 2100? Even in 2050? Of course not. Annual reports and five-year planning cycles do not contemplate such timelines, any more than the profit-rewarding bonus system of the c-suite does. However, the private sector continues to be inundated with reports and studies providing projections for events that may affect enterprises in this distant future, themselves based on current projections of macro-trends. These terrifying but irrelevant (and unreliable) statistics are of little use to the current planning cycles of the average business, yet the public sector is providing them in the hopes that the private sector will be motivated to step in and take the lead in responding to climate change, making the practical and timely changes that cumbersome and intractable bureaucracies have not been able to do. We now have the tragedy of the commons meets the tragedy of the timelines.
However, where governments and international bodies have missed the mark, and the private sector remains struggling to understand its role, a dark horse has emerged in the climate change crisis. Weather risk management specialists reveal the relevant data, the financial consequences and the risk management solutions that could finally successfully join the public and private sector together in the fight against climate change and make an international agreement within our grasp. The only question now is, is it too late for Cop21?
DOI: 10.15200/winn.144361.10683 provided by The Winnower, a DIY scholarly publishing platform
A ground-breaking new research report has been released today by the analysts at Meteo Protect demonstrating that despite the best efforts of government leaders and international organizations to lead the response to climate change, they have not been able to galvanize the key players who can make a difference. In fact, not only are they not engaged, they do not even know they are already at risk.
A new White Paper from Meteo Protect modelling the impact of climate variability on the private sector finds that climate change is already making a significant impact in the profits of companies operating in sectors exposed to weather. Directly challenging the direction of present empirical research, and the consensus of how to respond to climate change, it identifies how and why private industry, including companies and investors, must act immediately to manage the consequences of climate change.
Indeed, the extent to which the vast majority of companies are presently exposed to climate variability is likely to be a revelation for many analysts, investors and even companies executives themselves. Demonstrating that billions of dollars are at risk each quarter, continuing to go unreported and unmanaged, the researchers call for the provision of actionable and objective indicators to measure the exposure to climate risk and the implementation of mitigating weather hedging strategies to protect financial performance.
A must-read for finance executives, investors, asset managers and business analysts, the White Paper takes a new approach to tackling a long-standing and unresolved problem, making it understandable, relevant and manageable.
Download the White Paper
DOI: 10.15200/winn.144179.94962 provided by The Winnower, a DIY scholarly publishing platform