Banking experts unpack ‘climate risk’ factors, explains how SA stands to lose billions | The Citizen

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🌊In the US alone, around $160 billion has been lost to natural disasters due to climate change. SA stands to lose billions. climatechange naturaldisaster TheCitizenNews

He mentioned that the issue of water scarcity was also a concern, not only in South Africa but globally. “Businesses will need to prioritise awareness aroundBoshoff also touched on the risks of damaged communities, reputations, and stakeholder relations. He said that employee activism was on the rise, with employees exerting pressure on management to consider the long-term impact on the environment, their well-being, safety and health and ensure resources are conserved.

He explained that customers were becoming more vigilant on environmental and social matters, requiring firms to reduce emissions, produce biodegradable products and make use of renewable sources of materials as part of their sustainability journey,” he advised.“Youth voices, transparency and trust are also important issues to consider.

Boshoff emphasised the need for urgent action to mitigate the risks associated with climate change, as failure to act now could result in huge financial losses and irreversible damage to the planet. He encouraged businesses to take the lead in the fight against climate change by adopting sustainable practices and reducing their carbon footprint.

 

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