Companies Face Difficulties in Developing Effective Solutions amid Looming Climate Change Threat

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Even as the threat of climate change gains increasing precedence, prominent companies across the globe are experiencing challenges in developing and implementing effective solutions to counter it.

According to a survey of 2,000 high-ranking officials conducted by Deloitte Touche Tohmatsu Ltd., over 97% of survey-takers acknowledged that the ongoing climate crisis has adversely impacted their companies. However, only 19% of them had instituted steps to counter the challenges posed by the exigency.

The respondents noted that they faced the greatest pressure from governments, investors, and the general public to take a more proactive approach towards countering climate change. About half of them believe that implementing adequate climate change counter-measures will vastly improve their company’s reputation, while nearly 25% of survey-takers hold that the same would hike revenues in the long-term.

Some of the key current steps taken by firms include switching to more sustainable supplies, curtailing travel in the aftermath of the COVID-19 pandemic, and hiking energy efficiency.