From supply chain disruption to rising insurance costs to regulatory uncertainty, climate change is already impacting businesses around the world. Because the full effects of climate change cannot be fully anticipated, organisations must review their approach to risk management and adopt an increasingly flexible approach to conducting business.
In addition to assessing and managing climate-related risks, it is important for organisations to assess their own impact on the climate. Reducing the corporate sector's environmental footprint will contribute to the reduction of climate risk on a global scale. It is also important that businesses meet changing consumer expectations in relation to sustainability and environmental harm.
Dr Rachel Baird is the Director at IcebergSRC and a legal expert for LexisNexis® Regulatory Compliance. In this whitepaper, Dr Baird introduces the concept of climate risk and outlines how the growing popularity of environmental, social and governance (ESG) reporting is reshaping the future of transparency in the private sector. This whitepaper includes practical tips on implementing ESG reporting and designing a ESG approach and framework.