Five essential criteria for leadership on climate change

Iain Watt sets a new challenge to businessClimate change is now clearly on the radar of most large companies – but only a minority have started to think through, and act upon, the full suite of risks and opportunities it presents.

But, while individual companies may resist change, the competitive world they operate in won’t. Supply chains are increasingly judged – and indeed priced –on the basis of their carbon content. Products and services are evaluated not only on their performance, but on their ability to work in a low carbon world.

While all organisations across the globe will have to make adjustments to keep afloat in the future, some will be better prepared than others – and a few leaders will be well placed to embrace all the opportunities that the transition to a low-carbon economy offers.

But what does leadership on climate change look like? Forum for the Future has identified the five components which would place a company well ahead of the game:

• a full understanding of the risks and opportunities posed by climate change
• awareness of the climate impacts in your company’s value chain
• products and/or services that are fit for purpose in a low-carbon economy
• understanding your contribution to societal greenhouse gas targets
• progressive engagement in the political debate around climate policy.

So where do you sit on the scale? Is your company a beginner? Or a pioneer?For a cost of £7,500, the Forum is offering to tell its partners just that, identifying areas of excellence and room for improvement, in a quick evaluation. Are you ready for the Climate Challenge?

Iain Watt is Principal Sustainability Advisor at Forum for the Future.