Businesses not prepared for climate change

Research from the Chartered Institute of Internal Auditors and The Climate Group has found the majority of businesses are doing little to no internal audit work related to climate change.

The survey included responses from 122 chief audit executives across all sectors in the UK and Ireland. They included those from FTSE 100 companies, other publicly listed companies and large private firms.

In a joint foreword to the research, John Wood, chief executive of the Chartered Institute of Internal Auditors and Helen Clarkson, chief executive of The Climate Group, said: “We found that over half (52%) of respondents reported doing very limited or no work related to climate change. We also found that more than half (53%) have not discussed climate change with their audit committee chair.

“Given the level of risk associated with climate change, this is not where we would expect the internal audit profession to be. Climate change is quickly moving up the agenda and we believe it is an area where internal audit can add real value and demonstrate their worth to the organisation they serve.”

The report is entitled: “Organisations’ preparedness for climate change: An internal audit perspective.”

    Share Story:

Recent Stories

Are property insurers ready for timber
The Structural Timber Association is gearing up to help all stakeholders in the construction supply chain to fully appreciate the advantages of building in timber, how to deliver such projects and most importantly to understand and manage the risks.

The changing face of BC and WAR
The working environment has changed quite dramatically for many over the last six months. With social distancing and the rise of homeworking, it is not just how businesses operate that has changed, but also how they recover. In this podcast we discuss some of the challenges created by the quick shift to home working, why the office may not have seen its last days and how the current environment can impact the ability of a business to recover.