- Measure and assess the organisation’s exposure and impacts to both climate- and nature-related risks. This includes both transition and physical risks from climate and nature and requires an assessment of the company’s greenhouse gas footprint.
- Undertake scenario analysis. We don’t know how the future is going to unfold in relation to climate change, so an organisation needs to assess their business across a range of different future climate-change scenarios. This is something that’s important to report against – and understand the associated risks.
- Establish clear goals and targets and communicate those targets publicly. Communicating targets is essential to maintaining transparency and honesty within the business. This step includes setting and establishing net-zero targets as well as nature-positive commitments.
- Commit to the collection and disclosure of the organisation’s footprints, its nature and climate-related risks and emissions, and update that reporting on a regular basis. This enables investors, stakeholders and customers to understand how the business is achieving its goals over time and make the relevant decisions based on that information.
- Integrate, optimise and continually update targets with the latest science to build climate-risk solutions into the DNA of the business. Build this approach into supply chains, engage with stakeholders and then integrate into the company’s financial reporting. Develop adaptation strategies that will ultimately reduce the risk to and future costs for the business which will be a win for the business over the long term.
- Dr Scott Kelly will be part of the expert line-up at the Risilience Sustainable Futures Conference, on Thursday 12th October at London’s Barbican Centre, bringing together sustainability and risk leaders from the world’s largest organisations to help solve the greatest sustainability challenges facing business, today. More speaker information and sign-up here.
- Listen to more discussion on meaningful solutions to accelerate real climate action in the Climate Group interview featuring Dr Scott Kelly and Vince Romanin, CEO Gradient, broadcast for #ClimateWeekNYC: https://twitter.com/i/spaces/1kvKpmMwLvdGE