Ten climate trends that will shape business in 2010
Climate change introduces a lot of uncertainty into the marketplace, raising questions not just about how sustainable your business is in the face of a changing climate, but how your financial picture might change if there were to be a price on carbon emissions.
Corporate responsibility experts BSR put together this list of climate trends they expect to see change business in the coming year. Here's a quick overview.
A better dashboard: The real-time Web is allowing for better of exchange of information about how to track carbon and other climate impacts. Companies should expect to see these tools entering the corporate space.
More attention to products: Consumers are driving this one. More and more they're demanding more transparency around product footprint and life cycle. As in: If I buy this what impact am I having?
More attention paid to the supply chain and emissions: A crucial part of the footprint of the product is the impact of the supply. "Progressive companies such as Hewlett Packard, Ikea, Intel, and Wal-Mart are therefore pursuing partnerships with suppliers for carbon and energy efficiency, and they are focusing their public communications on the qualitative efforts to build supplier capacity--as opposed to pure quantitative measurements, which can imply more precision than really exists."
Improved literacy about business impacts: Companies are recognizing that they have to be more goal-oriented about their climate change mitigation efforts. "Firms such as Autodesk and BT have begun ... illustrating that there is a common end — which is measured in atmospheric parts per million of emissions — and that company metrics can be mapped to their share of their countries' national and international policy objectives toward them."
More meaningful policy engagement: Businesses are starting to wake up the fact that lobbying for laws that address the problems of climate change is just as important — some argue even more so — than taking individual steps to cut emissions and recycle.
Higher stakeholder expectations: "As climate management enters the mainstream, stakeholders expect companies to do more, and watchdogs will find new soft spots." The media will play a role in holding businesses accountable.
Increased power of networks: Industry sector networks can be an effective channel for sharing best practices. Consider what Wal-Mart has done with its network of suppliers in terms of education and providing the tools for better impact management.
More climate connections: Energy efficiency is just the beginning. Expect more businesses to start thinking about water and other resources.
More focus on adaptation: It's not just about climate mitigation. It's about adaptation — and finding the business opportunities therein.
More political venues up for grabs: After Copenhagen's disappointing results, more businesses are calling for more venues to move policy forward.
It's a lot to think about. If you want to dig deeper, read the full report at GreenBiz.
What would you add to the list? See any other climate trends that will affect business in 2010?
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