Climate change is no longer just a concern for a few ‘green’ businesses. It’s on the agenda in the boardrooms of most of Scotland’s largest companies.
We know this because of a recent poll we conducted of Scottish firms with 250+ employees. The overwhelming majority (85%) said they believe climate change poses a risk to their business.
It’s encouraging that so many firms are aware of the many chronic and severe risks climate change poses to our planet’s natural and financial systems. Indeed the Bank of England recently mandated that all banks have to appoint a senior executive to report to the board on climate risk.
It’s not all doom and gloom though – we don’t all need to pack our bags and go home. The actions we need to tackle climate change, like building warmer homes, developing new modes of transport and modernising how we grow our food also present huge innovation and economic opportunities for forward-thinking businesses in Scotland.
Many businesses are waking up to these opportunities, but others, particularly SMEs, seem less prepared according to our poll findings. That’s understandable, when it can be harder for smaller companies to horizon scan on their own. That’s why it’s critical that SMEs are supported too, and that’s where networks like the Chamber of Commerce come in to support, guide and advocate for the right solutions for all businesses, large and small, as we make the transition to a zero carbon economy.
The best way for Scotland to minimise the threat posed by climate change and maximise the opportunities arising from our response is for Scotland to continue to take a world-leading role, as businesses across the country clearly seem to understand, with 85% calling for Scotland to exert leadership in this space.
We recently brought together some key business leaders that are adapting to climate risk and captialising on the opportunities presented in reducing emissions at an event. A packed room of business leaders and politicians listened with interest to speakers including Keith Anderson, Chief Executive of Scottish Power, Michael Alexander, Head of Environment, Water, Agriculture and Sustainability at Diageo, and Sarah Williams, Public Affairs Manager at the Aldersgate Group, which represents a group of companies with a combined £600 billion turnover. All three spoke eloquently about the challenges climate change brings to their businesses and what action they are taking to deal with them and catalyse new products, services and business models for the future.
WWF Scotland believes that working with businesses is essential if we’re to achieve positive change for the planet. Some companies have already made positive advances, while others are unsure about how to go about it.
Sometimes the biggest changes can come about by forming challenging relationships and creating constructive solutions together. Recently WWF announced a partnership with Tesco with the aim that in ten years the environmental footprint of the average UK shopping trolley will be halved.
Working with business is a critical component to achieving large-scale, long lasting environmental and social benefits.
We hope that by continuing the conversation, businesses of all shapes and sizes will help us all adapt to the challenges climate change brings.
