Climate change was never just about polar bears or biodiversity – it’s also about people and our way of life. Climate change poses a big risk to businesses and how they operate, so the Cambridge Institute for Sustainability Leadership has looked at the findings from the IPCC 5th Assessment Report and worked out what the risks are.
WHY YOU SHOULD TAKE A LOOK
Have you ever considered how your business or place of work would look if you had to stop burning carbon in your day-to-day operations? How about the way your daily routines may change because of climate change? If you work in the in the extractive, financial, energy, tourism, construction or transport industries – these briefings are for you. If you use the services of any of these industries, these briefings are for you too. The briefings can be found here.
KEY TAKEAWAYS
Employment – climate change will place pressure on water supplies and food security, with implications for the cost of living, agricultural incomes and infrastructure in cites.
Extractive industries – climate impacts will make fossil energy supplies less secure, while climate mitigation will significantly change the industry.
Finance – climate impacts will be a major financial risk factor, while mitigation will change investment strategies and divestment will play a critical role in influencing climate responses.
Energy – energy infrastructure will be at risk from climate impacts, while lack of water will have severe impacts for power generation in Hydro and Nuclear generators. As the largest GHG emissions sector, carbon pricing and mitigation will have a large impact on the industry too.
Tourism – climate impacts will impact people’s financial ability to travel as well as reducing tourism in impacted areas. Carbon mitigation that reduces the ability to fly will significantly impact the industry.
Defence – climate change will create many security risks, from food and water shortages to geopolitical unrest and increasing numbers of refugees from climate disasters and energy insecurity to power defence forces.
Buildings – energy insecurity and extreme weather will be a risk for buildings and the building industry, however implementation of best practices in building efficiency and mitigation has multiple co-benefits.
