So, you understand the magnitude of the climate change challenges facing our planet and you understand that these challenges will start to have a profound effect on businesses around the world in the near future. Each business needs to prepare for these effects and develop an effective climate change strategy to mitigate their own impact on the environment.

Businesses also need to realise that a climate change strategy is not just a nice thing to have, but could soon be a prerequisite for doing businesses in many industries.

So what does an effective climate change strategy include and how do you go about developing one?

Here are a few tips on what an effective climate change strategy should include:

• Understanding the company-specific risks and opportunities climate change poses
  Your organisation needs to understand the specific risks and opportunities it faces due to climate change. It should then begin preparing for the challenges that the risks will bring and positioning itself in order to take advantage of the opportunities climate change brings.
• Integrating climate change considerations into the company’s vision and strategy
  A climate change strategy should not be seen as a nice to have that is separate from the main vision and strategy of the company. The leadership needs to recognise the magnitude of this issue and have it permanently on the main company agenda, and integrated into all plans and strategies.
• A comprehensive greenhouse gas emission profile or carbon footprint
  In the very near future each business, and perhaps even households, will have to give an account for their greenhouse gas emissions and carbon footprint. Businesses need to be able to measure this and be able to prove that they are doing all they can to reduce their impact on the environment.
• Setting and updating emission reduction targets
  Each company needs to have a good look at how it can decrease its CO² emissions. Depending on the type of business, this could include making changes to buildings and factories to make them more energy efficient and less polluting.
• Identifying and implementing emissions reduction and adaptation measures
  Develop comprehensive plans, perhaps in consultation with environmental experts, on how your organisation can decrease its greenhouse gas emissions over time.
• Integrating climate change considerations into internal governance practices, including board oversight
  This matter should be seen as important enough to be dealt with at the highest levels. Having a comprehensive climate change strategy will soon be a prerequisite for doing business in many parts of the world so it is important that organisational leadership keeps a close eye on the progress being made in this area

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