For businesses, a changing climate is not just about worsening weather patterns. Businesses must be prepared for what is likely to be an era of rapidly accelerating change to many dimensions of their operations, including changes in shareholder expectations, supply chains, multi-dimensional risks to physical assets, and impacts on labor, among others.
A critical dimension to preparing for these changes is risk assessment and reporting. The Task Force on Climate-related Financial Disclosures (TCFD) was established in 2015 to provide businesses with guidance on how to disclose both financial risks and opportunities that are associated with our changing climate.
Emily Wasley runs WSP USA's Corporate Climate Resilience practice. We spoke with Emily to gain a better understanding of the TCFD guidelines, and some perspective on the growing interest from businesses seeking to become resilient to a changing climate.
Climate impacts profits: How businesses should report climate risk