New research carried out by global risk management has shown that nearly half of UK businesses have already physically been affected by climate change.
The research looked into over 1000 businesses and found that many of them said climate change has already become an issue for them. Many other business leaders are even more concerned about how this impact is going to worsen over the next 10 years.
The biggest impact of the effects of climate change has been disruption from extreme weather events. This is especially devastating for the agriculture industry which has seen a lot of damage to farmland from flooding, storms and heat waves. 52% of businesses surveyed reported that extreme weather conditions have had an impact on their business.
Along with the effects of climate change causing physical damage to many businesses, there have also been reports of other climate-related issues. This includes increasing operating costs, supply chain issues and physical damage to assets.
Some businesses have already had to make business changes because of the climate. This has included moving business premises and adapting business models.
What businesses should be doing to prepare
Not only did this research show that many businesses are worried about climate change, it also showed how underprepared they are. Over half of business leaders have said that they have not taken any steps to mitigate the risks.
This has shown that despite the concern about climate change businesses are not doing enough to plan for what risks they could face.
Other businesses are taking steps towards reducing the impact of climate change by planning and investing in their business for the future. Recent research found that 30% of businesses have spent between £100,000 to £500,000 on low-carbon technology and making sustainable changes to their business.
Business leaders have urged businesses that have not taken the climate into account when it comes to planning and risk management to start as soon as possible.
The most popular practices that other business decision-makers have implemented include reducing paper usage, using automatic lighting, and sourcing renewable energy and LED lighting.
Other methods of ensuring that businesses protect themselves from the potential impacts of climate change include investing in risk management, an increase in green equipment and ensuring that they have the appropriate insurance.
What your business can do to help reduce the effects of climate change
All businesses should be contributing to the government’s target of meeting net zero by 2050. One way to do this is to start tracking your emissions and implementing changes within your operations to lower the amount of carbon emitted.
We understand that this can be a challenge for many businesses as you may not have the resources or investment to be able to do this. That is why at Resolve Net Zero we have comprehensive plans for monitoring and managing your business energy. See more here today.
If you're ready to improve your energy efficiency whilst driving down energy bills then why not get in touch? With our carbon management plans we will give your business everything it needs to reduce consumption and maximise on savings. . Request a free quote now and start reducing your carbon footprint and energy bills today.
