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It is no longer enough to have a small section of your risk and business continuity plans dedicated to climate change – businesses must take immediate and deliberate steps to implement better practices and smart controls to mitigate risks.
On the same token, organisations must be equally aware of how their operations impact the environment.
Changing global attitudes and increased regulation require proactive monitoring, and an adjustment of business practices to ensure readiness, consideration, and compliance.
Taking the initiative
On a business level, leaders need to examine the impact of climate change on their organisation and consider how they will respond in the immediate, mid and long term future.
As a growing number of companies are subject to greater reporting requirements – be they voluntary or mandatory – there is also a need to develop integrated reporting frameworks. This ensures integrity and efficiency, while creating space to consider emission reduction initiatives that could boost energy savings and profitability.
On an industry level, there are several initiatives designed to promote sustainable practices, such as the Emissions Reduction Fund and the Climate Solutions Fund.
These funds provide incentives for people and organisations to adopt new practices that reduce carbon emissions. When fund participants implement these practices, they earn carbon credits which can then be sold to the government or the private market to generate income.
As energy and environment advisors and certified auditors, our expert team is ideally placed to assist you in readying your business for the impacts of climate change and emerging regulations.
WE HAVE WORKED WITH COUNTLESS NOTABLE ORGANISATIONS IN AUSTRALIA TO:
- assess the potential impact of climate change
- determine risk controls
- consult on environmental management systems
- evolve risk and continuity plans for environmental impacts
- provide regulatory compliance audits
- advise on industry initiatives, including the Emissions Reduction Fund
Whether you require a fully outsourced consulting and audit capability, or wish to augment and upskill your internal team, our services are 100% tailored to meet the unique needs of your business.
To speak with a climate change and carbon risk management expert, contact your local RSM office today.
