With the swift advancements in climate regulation, your organization might find itself adopting a responsive approach to managing climate risks, placing a significant focus on climate reporting and the reduction of greenhouse gas emissions.

From supply chain challenges to geopolitical vulnerabilities, climate factors amplify a broad range of other risks. These risks will undergo changes influenced by external climate shifts as well as your organization’s efforts to achieve net zero emissions and comply with climate disclosure regulations. To foster enduring strength and resilience, organizations need to expand their focus beyond climate reporting, aiming for a more extended, optimized response to climate-related risks and opportunities.

In this perspective, we provide essential steps to formulate climate risk management strategies that align with your climate reporting requirements while preparing the business to address a myriad of climate-related risks and opportunities over extended timeframes. This involves deploying risk budgets in the most efficient manner.

Learn more here: https://www.wtwco.com/en-ca/insights/2024/01/climate-risk-management-three-steps-to-optimized-long-term-strategies