Climate Seen as Business Issue, but Action Lacking

New York, NY (December 2007)- A study carried out and published in the McKinsey Quarterly, based on a survey of 2,192 executives from around the world, shows that while business leaders consider climate change important, little is being done to reduce company greenhouse gas (GHG) emissions.

The survey reported that 60 percent viewed climate change as an important consideration in their companies╒ strategy; 70 percent consider it important in managing corporate reputation and brands; more than 50 percent think it is important in product development, investment planning, and purchasing and supply management; about one third responded that their companies placed a higher emphasis on climate change than other global trends; and 61percent view climate change issues as having a positive effect on profits if well managed.╩
However, more than one-third of executives say their companies seldom or never consider climate change when developing overall strategy and 15 percent are not aware of whether or not their companies have already set targets. The survey found six out of ten anticipate new climate change technical standards, and despite the uncertainties around regulation, 82 percent of executives expect some form of climate change regulation in their companies╒ home country within five years.
Related Resources:
McKinsey Quarterly: How Companies Think About Climate Change
Environmental Finance: Climate is a Business Issue
TriplePundit: Driving Climate Change in Corporations