According to the Global Annual to Decadal Climate Update (2024-2028) issued annually by the World Meteorological Organization (WMO), there is an 80 percent likelihood that the annual average global temperature will temporarily exceed 1.5°C above pre-industrial levels for at least one of the next five years.
The global mean near-surface temperature for each year between 2024 and 2028 is predicted to be between 1.1°C and 1.9°C higher than the 1850-1900 baseline. The report states that it is likely (86%) that at least one of these years will set a new temperature record, beating 2023 which is currently the warmest year.
Do you know what impact this may have on the area where your business is located or on its activities regardless of the geographical area? Do you know how it may affect your suppliers and customers? Your supply chain and the raw materials you need?
At this point it is essential to anticipate your business' risks from climate change so that you can plan mitigation actions and build resilience for a sustainable future.
Experience has shown that the standards adopted up to now, mainly within the scope of ESG, have led businesses and organisations to a certain degree of assurance towards sustainable future however have not addressed the issues of Risk.
And certainly the dominant "technology" in Risk Management and Planning, which today is the popular Excel spreadsheets, is not able to cope with the risks arising from the effects of climate change!
Businesses face the same problem: spreadsheets soon reach their limits in terms of, among other things, processing different types of data, modelling the future, communicating with external databases, providing historical and future forecasts, providing dynamic visualisations.
Our company has a specific proposal for businesses in terms of predicting the financial and other impacts of climate change. RiskClima is a tool that incorporates Best Practices from two worlds: Risk Management and Climate Change.
It provides a map of implications for your business from climate events cross referenced to Risks in a monetised and prioritised format.
In addition, mitigation actions are suggested to help you prepare a comprehensive plan to Net Zero and meet Regulatory Requirements.
See more on RiskClima and its functionalities at https://www.riskclima.com/
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