Economy
New series demonstrates climate change impacts on businesses
The Cambridge Institute for Sustainability Leadership has released a series of summaries that highlight the likely impacts of climate change on businesses and the capacity of each sector to adapt and reduce emissions.
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The series covers a wide variety of areas, from agriculture and fisheries to cities and transport. The briefings are based on a report from the Intergovernmental Panel on Climate Change (IPCC), which warned that no nation would be left untouched by climate change.
Rejendra Pachauri, chair of the IPCC, commented, “I applaud this initiative. Spelling out the implications and of climate change for different sectors, on the basis of the work of the IPCC, will allow businesses to adapt to the challenges they face and understand the role they are able to play in reducing their climate impact.”
The agriculture briefing lays out how climate change would impact on crop yields and as a result food prices are likely to increase. It notes that resilience in the sector requires both mitigation and adaption and lays out potential options, such as establishing agro-forestry systems, replacing fossil fuels with biofuels, managing livestock diet quality and improving crop rotation systems.
The other briefings cover building, cities, defence, employment, energy, extractive & primary industries, finance & investment, fisheries & aquaculture, tourism and transport.
“Science on climate change is key for business community, particularly concerning climate scenarios that we will face in the medium and long term,” said Ålvaro Echåniz, chief executive officer of Ferrovial FISA.
“We cannot understand a long term business strategy without taking into consideration the findings of the IPCC, as a reliable input for identifying the risks, and of course, business opportunities behind those trends.”
Photo: Saleem Taqvi via Freeimages
Further reading:
Sustainability institute of the week: Cambridge Institute for Sustainability Leadership
Enlightened business: 20 years of the Cambridge Business and Sustainability Programme
Allianz, Aviva and Zurich make ‘moral, financial and economic’ case for responsible investment
UK’s severe shortage of farmland will hit food production – study