Mindy S. Lubber, Executive Director, CERES
In recent years global climate change has evolved from a largely technical issue to one of the most critical, widely discussed challenges for public and private sectors alike. Within the private sector in particular, climate change has rapidly developed into a major strategic and operational issue for both industrial corporations and their investors. Compelling evidence now exists that the competitive and financial consequences for individual companies under business-as-usual scenarios will be immense. Both the impacts of climate change itself and the need to cut greenhouse gas emissions will create new risks. Indeed, even within the same industry sector, corporate exposures to the risks of climate change can vary greatly. In short, the financial impacts both for individual companies and for entire industry sectors are real and potentially very serious.
In other words, thinking about global climate change is no longer a "what-if" exercise. It is a growing strategic priority for boards of directors, institutional investors, and others with a stake in companies' long-term fiscal health.
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