Development of corporate climate strategies
Reasons to make decisive action to mitigate climate change have never been so clear and compelling. Measures taken at the international, national and subnational levels to limit and reduce greenhouse gas emissions pose additional risks and financial burdens for companies and investors, suppliers and contractors. At the same time, new opportunities arise related to changes in the preferences of stakeholders, the emergence of new available technologies, materials, fuels and energy sources. Risks need to be managed to reduce them, and ideally to eliminate potential damage. And new opportunities need to be quickly and efficiently used to their advantage, until they are taken advantage of by competitors. All this creates additional stress for businesses and requires thoughtful response.
The answer to climate change and the changes caused by is a climate strategy of the company, which contains the ways to assess climate challenges and respond to them including related to the physical consequences of climate change (the increasing variability of weather events significantly limit production processes and reduce staff performance) and changes in regulation aimed at mitigating climate change and its consequences. More and more companies are developing corporate climate strategies in such a way that reducing emissions and increasing energy efficiency go along with maintaining and developing their economic capacity.
In preparing climate strategies for companies in various industries, we use a consistent, integrated approach, taking into account the expectations of all stakeholders, which is characterized by the following main features:
1. Mandatory coordination with existing corporate strategy, processes for evaluating and planning investments and financial planning in general, risk management.
2. Necessary compliance with generally accepted standards and processes (for example, when defining emission reduction targets).
3. Strategy includes the key methodological blocks, such as scenario analysis, the internal price of carbon, and substantiated goals for reducing greenhouse gas emissions.
4. The problems of adaptation to climate change are important, in particular, social and personnel policies to reduce climate risks for employees, measures to protect infrastructure, changes in production processes, etc.
5. New opportunities arising from climate change are also taken into account.
Climate strategies that we have prepared are integrated into the business strategies of enterprises, rely on effective processes for collecting information, monitoring and verifying data, and include measures to reduce greenhouse gas emissions, information on the risks and opportunities arising from climate change.
