Changing climate triggers risk and investment issues for global mining industry
Mining companies are failing to fully recognise risks posed by climate change and over 80% of global mining companies surveyed claim their physical assets would be affected by extreme weather events, yet only 13% report taking action to protect their assets that are critical to business success, attracting financial investment and the safety of employees says a new Acclimatise report backed by IBM.
The report findings highlight the critical choices mining companies now face to prepare their business for the additional costs and challenges created by a changing climate. The challenges facing mining enterprises today are pushing leaders to adapt the traditional ways of thinking about their business to discover and explore new practices that will improve the business of mining.
The report titled “Global Mining – The Adaptation Challenge” is based on the Carbon Disclosure Project’s annual request for investor information that was sent to the world’s largest 144 mining companies (based on market capitalisation). Analysed using the Acclimatisation IndexTM methodology, the report identified key challenges and opportunities the sector must address.
The “Global Mining Carbon Disclosure Project Report – The adaptation challenge – Building business resilience to inevitable climate change” published by Acclimatise and sponsored by IBM is available for download from our reports section.
Learn more about IBM and the Carbon Disclosure Project here.
Climate change threatens corporate balance sheets
Companies and their investors are failing to take climstic changes properly into account in their investment decisions, says a new report produced by three leading institutional investors, with specialist input from Acclimatise.
The report, produced by Henderson Global Investors, Insight Investment, and the Universities Superannuation Scheme (USS), builds on four sector-specific reports produced by Acclimatise. It highlights that most attention has been paid to extreme weather effects (flood risk, increased ferocity of storms), but that much less attention has been paid to the incremental changes of changing weather patterns such as the effects of incremental rise in ambient temperatures on building performance and energy efficiency.
The report, titled ‘Managing the Unavoidable: investment implications of a changing climate’, together with the sector-specific reports are available for download from our investors section.
Climate Change Exposes the Oil and Gas Industry to Risk
Changes in climate could impact oil and gas company’s assets, operations and safety. Over three quarters of the world’s oil and gas companies surveyed believe inevitable climate change could impact their business increasing downtime, system failures and safety risks, but only 19 percent are taking action, says a new Acclimatise report backed by IBM.
The report titled “Global Oil & Gas – The Adaptation Challenge” is based on the Carbon Disclosure Project’s annual request for investor information that was sent to the world’s largest 128 oil and gas companies (based on market capitalisation). Analysed using the Acclimatisation IndexTM methodology, the report identified the top five impacts of climate change and the industry implications.
The “Global Oil & Gas Carbon Disclosure Project Report – The adaptation challenge – Building business resilience to inevitable climate change” published by Acclimatise and sponsored by IBM is available for download from our reports section.
Learn more about IBM and the Carbon Disclosure Project here.
Changes in climate and water availability adding stress and costs to global electricity sector
Nearly all electric utilities say climate change threatens power outages, higher costs and changes in usage, as demand grows to power the world’s expanding cities.
Over ninety percent of global electric utilities that report climate change activity to the Carbon Disclosure Project recognised they are at risk from changes in climate and water availability, which are already adding stress to the sector. However, less than a third claimed to undertake any financial or quantified evaluation to the impact of climate change on their business.
The Global Electric Utilities Carbon Disclosure Project Report – The adaptation challenge – Building business resilience to inevitable climate change published by Acclimatise and sponsored by IBM is available for download from our reports section.
Learn more about IBM and the Carbon Disclosure Project here.
Less than 40% of FTSE 350 companies assess risk of climate change
Only 38% of the two thirds of FTSE 350 companies who reported their climate change activity to the Carbon Disclosure Project, declared they conducted any financial or quantified analysis into the impact of climate change risks to their investors.
The FTSE 350 Carbon Disclosure Project Report for 2008 on climate change adaptation published by Acclimatise and sponsored by IBM is available for download from our reports section.
Learn more about IBM and the Carbon Disclosure Project here.
British business failing to adapt to changing climate
- 90% of FTSE 350 express concern about climate change
- but only 1 in 8 of FTSE 350 see their operations as at high risk
A changing climate for business
By John Firth in a supplement to Environmental Finance magazine, October 2006
Regardless of our efforts to mitigate climate change, we are locked into an unavoidable degree of global warming. And, as John Firth finds, companies need to accelerate their preparations.
The forecast predicts legal liabilities
By Malcolm Dowden, Charles Russell LLP
In Estates Gazette, 12 November 2005
“Climate change is not merely the preserve of meteorologists. It has repercussions for developers and building owners.”
Katrina and the waves
By John Firth, acclimatise
This article first appeared in the Ariadne Capital Journal (version 6 edition 1), February 2006
“If companies suffer significant losses in 2006, I am sure we can expect institutional investors to be asking searching questions of those companies regarding their risk management procedures and their exposure to climate risks.”
Take the weather with you
By Ed Vinales in Insurance Post Magazine, 20 July 2006
“If companies can prove they have robust risk management procedures mitigating climate risk then that should be reflected in the availability and cost of coverage and enable differentiation against competitors that do not adequately manage this risk. Corporate governance would then oblige senior management to take note of the issue.”