22 Jan 2009

Businesses advised to monitor climate change

Risk managers have been told to identify threats caused by recent predictions on climate change.

Independent research firm Verdantix published a report illustrating a variety of precautions that businesses can take to ensure that sustainability risks are dealt with early.

"Climate change and sustainability risks are detached from the everyday business of most company directors - and people rarely prioritise what they don't understand," says Rodolphe d'Arjuzon, author of the study.

"The question is whether companies will wait for a crisis triggered by climate change before taking the risks seriously," he adds.

Among the strategies outlined is the use of specialist scientific analysts to inform the company of changes to climate patterns.

Firms are also advised to monitor greenhouse gas emissions by expanding on cap-and-trade schemes and utilising global risk advisers to reduce carbon dioxide exposure.

The recommendations come after a recent survey by Access Accounting found that nearly two-thirds of employees are not aware of whether their business controls its carbon emissions.