Canada - The business of climate change

Climate change is a global business issue of unprecedented significance, affecting entities of all sizes in all sectors. Unlike the recent recession and financial crisis, from which most economies will gradually recover in time, climate change as a formidable business issue is here to stay. It is multidimensional, evolving and complex, presenting new aspects and challenges as time goes by. Risks related to climate change may be physical, regulatory, reputational or legal. Some companies face mitigation risks related to their obligations and expectations about reducing their emissions of greenhouse gases (GHG). The risks faced by others may be related more to the impact of climate change on their business operations and the need to adapt accordingly. Companies’ effectiveness in identifying and addressing climate change risks (and opportunities) and their implications for business strategy is itself an important and distinguishing competitiveness factor. (Read the articles on The business of climate change and Toward the Green Deal in the December 2009 CAmagazine online.)