Effective business strategies to address the climate change challenge
The topic we explore relates to effective business strategies to address the climate change challenge including the ‘No Regrets’ strategy. An effective response requires understanding the carbon exposure of the firm, various business and operational risks (including reputational risks) as well as opportunities provided by the physical impacts and the policy environment. The factors that influence corporate positions on climate change: external, industry and company-specific factors (see e.g. Table 5.1 of Pinkse & Kolk, 2009). Reflect on how these factors influence various corporate positions on climate change.
- Provide brief answers for the following
a. Describe the ‘No Regret’ strategy in responding to climate change.
b. In the corporate case or sector you have chosen for the assignment are there any ‘No regrets’ strategies available?
- Assume the Head of Business Solutions at your company (choose the corporate case either a sector or business as per your assignment) has asked you to briefly:
a. Identify and rank two risks to the sector or company from climate change.
b. Identify one opportunity that climate change policy presents the sector or company with?
c. Identify the best strategic choice available to the sector or company?
- What are the changes that individuals can make in their daily lives to help deal with climate change? State one specific action through which you would like to personally endeavor to make a positive contribution to the effort on climate change.