Climate change poses 'major threat to businesses'

News Article - Tuesday, April 08, 2008

filed under: Business

Climate change is posing a major risk for businesses over the next ten years, a new survey suggests.

The Business Continuity Expo 2008 survey highlights climate change as an "emerging risk" and reveals that 87 per cent of firms perceive climate change as the single biggest threat to future growth.

Sponsored by insurance broker March, the study examines threats in terms of risk assessment to companies.

Green issues were higher up the list of major global threats to businesses, ahead of terrorism, pandemic flu, the credit crunch and flooding, for the 150 major UK and European companies quizzed.

Martin Caddick, Marsh business continuity management team leader, stated: "While the majority of firms surveyed have accurately identified the major risks that could affect their businesses, fewer seem to be successful in tackling them head on. This lack of preparedness continues to be a major issue for European firms in today’s turbulent times."

The Emerging Risks survey found that 83 per cent of respondents were worried about shortages of traditional sources of energy, such as oil and gas.

Businesses can use carbon accounting software to assess their own impact on the environment, helping to enhance their green credentials and combat global warming.

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