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A climate awakening for companies?

In the first report of its kind, KPMG and Eversheds Sutherland surveyed the opinions of business leaders from more than 500 global companies about the risks and opportunities that climate change poses to their organisations. The survey found that corporate leaders are well aware of the risks associated with climate change and that climate risks equate to financial risks. At the same time, most leaders felt they weren’t yet equipped to deal with the challenges of creating a net zero-carbon business. Nevertheless, facing internal and external pressures, a majority indicated that they will need to take more aggressive steps toward decarbonisation, recognising that such a strategy is not only good for the environment but also good for business. 

About the report

Download the report

Corporate leaders need to address the risks associated with climate change and move toward decarbonisation.

Download the survey report to learn more:

  • Climate change has become a significant boardroom issue requiring action: There is growing recognition among businesses that climate change may very likely result in substantial transformation of their business as well as bring new opportunities. However, a substantial knowledge gap exists about what is required to create a net zero-carbon business.
  • Most companies treat climate risk as a serious business issue: There is clear recognition that climate risk equates to financial risk and almost universal consensus that auditors need to take climate risk into account. In addition, companies are now much more focused on becoming -12Q'11strategies.
  • Companies are being pressured to implement decarbonisation strategies: Investors are key influencers and have become very focused on climate issues when evaluating investment and investment decisions. In addition, regulators and employees have become an important factor, and there is an ever-increasing consumer demographic that has put climate change at the top of their priorities.
  • The new focus on climate risk is manifesting itself on companies’ People Agenda: Climate action is increasingly becoming a key driver of executive remuneration via long-term incentive planning. Also, as the war for talent heats up, the rapid polarisation of younger generations on the topic of climate change has become a concern across the corporate landscape.
  • Critical barriers to decarbonizing business remain: These include, high costs of decarbonisation; inability to source technology solutions; limited skills and expertise; and lack of awareness of potential solutions to finance climate resilience and decarbonization strategies.

 

To learn more about this report and insights discussed, or to discuss your client risk roadmap, please contact one of our KPMG climate risk experts.