The Intergovernmental Panel on Climate Change (IPCC) has released a report that blames an increase in extreme weather on global warming, and urges governments to make adaptation arrangements.
The Special Report on Managing the Risks of Extreme Events and Disasters to Advance Climate Change Adaptation (SREX) says that heat waves, record high temperatures and heavy precipitation can be sourced to climate change.
The report comes after research commissioned by the Department for Environment, Food and Rural Affairs (Defra) and conducted by the Carbon Disclosure Project (CDP) found that less than half of FTSE 100 companies had climate change adaptation strategies.
The IPCC released an introductory study in November last year, under the moniker, Summary for Policymakers. The full 594-page version was released this week.
“The main message from the report is that we know enough to make good decisions about managing the risks of climate-related disasters”, said Chris Field, co-chair of Working Group 2 – joint producers of the SREX.
“Sometimes we take advantage of this knowledge, but many times we do not.
“The challenge for the future has one dimension focused on improving the knowledge base and one on empowering good decisions, even for those situations where there is lots of uncertainty.”
The IPCC report picks out the poorer communities as the ones that will be most affected, building on research done by global risks advisory firm, Maplecroft, last year, which claimed that the developing world was at “extreme risk” of climate change.
It also highlights the need for countries, businesses and individuals to take a second look as to where their investments are. Investing in unsustainable, damaging industries is only quickening the rate at which climate change is affecting the planet.
That’s why sustainable investment is so important. Opting to invest your money with those who don’t contribute to climate change, but fight against it, is fast becoming a risk management strategy in addition to building a blue and green tomorrow.
Ask your financial adviser or fill in our online form and we’ll help you along the process.