Energy marketing company says new EA report highlights business opportunities of climate change
Emerging findings from the Environment Agency (EA) shed light on today’s corporate approach to global warming. Giles Crosse, Content Coms’ Chief Analyst, interrogates the trends.
A new report from the Environment Agency reveals how businesses view the risks and opportunities presented by future climate change and severe weather.
The report’s key findings
- 86% of companies identified one or more climate-related risks.
- 34% of the climate risks identified are being managed using a low-cost, ‘business-as-usual’ approach.
- 33% of the opportunities identified are expected to arise within 3 years.
- Approximately 1 opportunity was identified for every 3 risks reported.
- 44% of companies do not know the financial costs of climate impacts.
- 62% of the market opportunities identified by companies related to increased demand for existing and new products and services.
Business opportunities in a changing climate
The report combines evidence from Carbon Disclosure Project (CDP) surveys of UK firms, along with new insights from interviews with leading businesses in the UK.
“Planning now for the impacts of severe weather and a changing climate makes good business sense and can have immediate benefits,” The Environment Agency’s Acting Chair Emma Howard Boyd comments in the report.
“For instance, if businesses can keep trading during severe weather they will not only retain customers, they may have the chance to win new ones. We want UK businesses to be resilient to extreme weather to, be prepared for future risks, and to seek opportunities from a changing climate.”
Some UK firms, says the report, are already exploring the opportunities planning for climate change brings. These include protecting vital assets, maintaining business continuity, and gaining competitive advantage. Seemingly, much of this work is happening within ‘business-as-usual’ budgets, and with no need for extra funding, staff and skills.
The UK has world-class expertise in this field; sectors like manufacturing, finance and insurance, environmental and engineering consultancy, and construction already export products and services globally to help clients manage climate change impacts.
Burgeoning need for climate adaptive business
Demand for these products and services will continue to grow, the report concludes.
“At Content Coms, we are constantly seeking new ways to communicate and advise not only our clients, but the UK sector as a whole on mitigating carbon,” says Joanna Watchman, Founder and CEO.
“But there is more to it than that. The correct, futurist, adaptive approaches win not only the war against climate change, but they win new business, new finance and offer new jobs too.
“Delivering low carbon, energy efficient business is nothing less than the challenge that will shape the future UK. We’re proud to be leading the race to help support and form the businesses that will lead our country into the next era of successful climate adaptation.”
Content Coms is one of the UK’s leading B2B communications consultancies specialising in the energy, low carbon and technology sectors. If you’ve enjoyed our article, how about reading more of our energy news and analysis?