Commentary: "How to help your company prepare for climate change in 2016"
โฆ[The] global climate change agreementโฆleaves many companies with a big question: how can they continue to growโฆwith the new climate goals?โฆ[H]ere are five key considerations to help clarify the breadth of the scope of this changeโฆWhat can a global temperature rise of 1.5-2C mean for businesses?โฆCompaniesโฆneed to address this problem in scenario planningโฆWhat is the potential cost of climate change?โฆAccounting for these unintended costs will give companies greater predictability and a surer path to growthโฆHow will climate change impact a companyโs valuation? The financial services sector is refining itsโฆcriteriaโฆto address climate change, and companies should take note of how these evaluations can impact their stock performance...Do employees understand how climate change links to their business?...Educating employees about the specifics of how climate change will affect their jobs will require consistent and deliberate outreach, opportunities for engagement, and informal and formal conversations at all levels...They will need to understand how every element of their work can impact the natural environment and resulting social conditions...[C]ommunicationโฆcould help ensure that all of a companyโs effortsโฆlead to clear, tangible impact on the worldโs social and environmental conditionsโฆ[Also refers to Citi, Goldman Sachs, and Microsoft.]