As the UN Climate Summit "COP 26" approaches, the world is finally confronting the reality of the climate crisis. With consumers calling for climate action, governments declaring climate emergency, businesses facing potential disruption to their operations and investors increasingly demanding climate disclosures, climate action is set to be one of the key sustainability topics in 2021.
With consumers, investors and governments increasing the pressure to disclose and minimise climate impacts, businesses, cities and countries around the world are embracing low-carbon strategies to reduce their emissions.
Lifestyles and purchasing decisions are increasingly shaped by environmental concerns. As the number of consumers worried about climate change grows, companies are increasingly communicating products’ environmental impacts using carbon footprint labels.
As climate change makes extreme weather more frequent and/or severe, many cities are at higher risk of rising ocean levels, and/or suffering droughts or flooding. To minimise the negative impacts for citizens and businesses, cities that are more climate-vulnerable are rushing to implement climate adaptation measures.
Making supply chains more climate-resilient has become imperative. Changes in climate patterns bring tremendous risks for businesses, such as disruption in manufacturing and logistics, rising production costs and losses in corporate productivity and revenues.
Increased climate awareness and net-zero carbon commitments are expected to drive the highest investments in areas such as energy efficiency, employee education and renewable energy, unlocking opportunities for innovations and collaborations.
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