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Companies can continue creating value in the face of disasters, both natural and man-made, when they develop community resilience strategies.
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Companies can continue creating value in the face of disasters, both natural and manmade, when they recognize and develop strategies to take advantage of their interdependencies with the societies in which they operate.
Earlier this year, the financial services company HSBC came out with a report in which their analysts calculated that taking climate change seriously could cut share prices of major oil companies by up to 60%. That report, Peak Planet: The next upswing for the climate agenda, held some sobering news for business. Now that it has been made freely available on the company’s website, executives concerned with managing risks may want to read it.
Trends suggest that the public is no longer satisfied with corporations that focus solely on short-term profits. A recent study comparing companies that adopted environmental and social policies with companies that didn’t supports this view. However, few companies are born with a commitment to sustainability. To develop one, companies need leadership commitment, an ability to engage with multiple stakeholders along the value chain, employee engagement and disciplined mechanisms for execution.
The Chicago Climate Action Plan aims to mitigate shocking forecasts that the northern city is on pace to end up with summers like those in the U.S.’s Deep South, with as many as 72 days over 90 degrees before the end of the century, up from an average of fewer than 15.
Companies lose money because they treat pollution control and plant operations as separate concerns. It costs less in the long run to make environmental and plant managers true partners in finding compliance solutions.
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