12 Jul 2011 08:07:07
UK businesses 'must acknowledge climate change risks'
UK businesses must better understand the risks posed by climate change on the international stage, a new report has claimed.
Produced by the think tank Foresight, the report suggests the impact of global warming overseas is likely to have a greater effect on UK companies than the impact it has domestically.
In 2008, UK enterprises owned £1.2 trillion in assets worldwide, and failing to understand the risk posed by climate change could leave these unprotected.
Climate change could also place huge pressure on the resources and infrastructure companies rely on, such as disruption to energy supplies or extreme weather events damaging communications networks or data centres.
Chief scientific advisor to the government, Professor Sir John Beddington, who directed the project, said: "The UK must not respond by becoming insular but instead broaden its international reach to tackle climate change."
Evidence used within the project will help form the UK's first Climate Change Risk Assessment.
However, according to recent research from T-Systems and the Economist Intelligence Unit, climate change is slipping down the corporate agenda.
Just 37 percent of executives now view energy efficiency as a priority, the Daily Telegraph reported.