The authors encouraged businesses to look at climate change in terms of risks and opportunities. Companies whose assets are affected by weather, such as insurance, real estate, agriculture, and tourism, were warned to plan for the consequences of climate change. And all businesses, regardless of industry, were encouraged to prepare for anticipated regulations to curtail practices believed to be contributing factors to climate change; new opportunities may arise for a variety of companies and industries as a result of these changes. The authors also advised companies to be honest and transparent with stakeholders and to be public about their intiatives toward climate change mitigation. Lastly, they stated that there are "no excuses for inaction" in managing the business risks and opportunities associated with climate change. The authors concluded by stating that thinking through the complexities of how climate change will impact the business is a test of management acumen; some executives are meeting this challenge head-on while others are not--and shareholders should ask why.
If your business is ready to plan for climate change, then I recommend A Three-Pronged Approach to Corporate Climate Strategy (Business for Social Responsibility, 2006). In order for the world to decrease global emissions by the recommended 70%, companies need to think in terms of zero emissions as they plan their climate change strategies. In a nutshell, it is recommended that companies analyze their value chains to identify opportunities to become more energy efficient, to invest in carbon emission offsets, and to invest in renewable energy.
Don't forget to participate in your local 350 Climate Action Rally on Saturday, October 24. The Little Rock, AR event will be held at MacArthur Park from 2-5pm. Hosted by Audubon Arkansas, 1 Sky, Sierra Club, and Village Commons, the event will feature local musicians, speakers and educational booths with presentations by State Representative Kathy Webb, Sierra Club, and Quapaw Quarter United Methodist Church.
