Organizations Can’t Afford to Ignore Climate-Related Risk. Here Are 3 Steps to Implement a Mitigation Strategy
A 2020 survey that queried leaders of some of the world’s biggest businesses on climate-related risk revealed a stark dichotomy between thought and action. Of the 300 CEOs and CFOs surveyed, 76% said their companies are exposed to climate risk, and 86% categorized climate risk management as a medium to high priority.
Despite this awareness, 77% said their organization is not fully prepared for the adverse financial effects of a changing climate, and 82% said they feel they have somewhat to no control over these effects anyway.
Too many CEOs and CFOs are struggling to get a handle on the enormity of climate-related risk. The unpredictability of natural catastrophes and their far-reaching effects may cause many to feel that this is simply too large of a risk to prepare for in any meaningful way.
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