found that more than a quarter of Australian companies had reported no material exposure to environmental or social risks., KPMG was, quite reasonably, sceptical that such a high proportion of listed companies would have no exposure to such risks.
But concentrating efforts on climate mitigation is far from sufficient. The air temperature has already risen 1.2 degrees and communities and economies are already facing harsher weather patterns with more severe droughts and“Climate change is permanent, and it is going to be disorderly,” says Summerhayes, a senior adviser to specialist climate change advisory and investment firm Pollination. “We need to think about how we’re going to live in a warmer world.
Three years ago, Lendlease introduced a formal climate risk assessment process, says chairman Michael Ullmer.Protecting a company’s assets, supply chains and staff against the effects of climate change is no mean feat. The sea level could rise by between 14 centimetres and 30 centimetres by 2050 in eastern Australia. Across Australia, 2.5 per cent of properties will be at “high risk” of riverine flooding by 2030, the Climate Council says.
Directors and senior executives should not think that the failure to protect the company against stronger winds and water inundation is merely an insurance issue. The Australian Prudential and Regulation Authority is asking banks to factor in the effects of climate change into credit decisions. This is still new but is expected to become the norm. Investors are already pricing in climate impacts in their investment decisions.
It is cooler year by year, what warmer world 🌎
FACT CHECK : BULLSHIT
There will be: - less famine (food grows better when it's warmer); - less bush fires (CSIRO scientists say) - more but it is a tweet after all... If it really is irreversible agw from CO2 but to make that call based off of 40 years of accurate records seems like folly.
By definition, how can climate -change- be 'permanent'? What has changed before & is changing now can change again in the future. This article is emotive, non-scientific garbage that lacks any substantiating information (other than the Appeal to Authority logical fallacy).