Firms urged to face up to the new demands of a low carbon economy

Companies are beginning to recognise the threat posed by climate change to all aspects of their business – beyond the obvious damage caused to the planet.

This is according to a report published by Clyde & Co on the rapidly evolving risk and regulation environment and subsequent implications for businesses and industry.

Nigel Brook, partner at Clyde & Co said: “As climate-related risks become more prevalent, we are seeing an increase in high-profile litigation resulting in significant losses for businesses.

“At Clyde & Co, we believe a proactive, rather than reactive, approach to the new risk environment is sensible, drawing on good governance and turning it into action. It represents an opportunity for businesses to build resilience against climate risk and transition to a new, and better, way of operating."

Launching its 2021 climate change risk and liability report, Stepping up Good Governance to Seize Opportunities and Reduce Exposure, the law firm says the conversation around climate change at an organisational level has changed in the two years since it published its first climate risk report.

Global emissions must halve by 2030 to keep global warming below 1.5 degrees, and with over 110 countries committed to becoming carbon neutral by 2025, this year’s United Nations COP26 climate change summit will set the pace for defining and strengthening policy response.


See the next issue of CIR for more on this report.


Image courtesy Terrafirma

    Share Story:

Recent Stories


Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?
Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks.

Manufacturing: An industry at risk amid great technological change
Of the many sectors of business, manufacturing companies are among the most at risk from cyber threats. How has the sector evolved to make it so vulnerable and what does the task of managing cyber exposure in a manufacturing company look like? CIR’s latest podcast with Tokio Marine HCC sought to answer all these questions and more. Published April 2021

Advertisement