An increasing concern about the environment has been ranked in the top 10 strategic risks to business in a recent report from consultancy Ernst & Young.
The firm used the term ‘radical greening' to describe the increasing environmental challenges that could result from stricter regulations, changes in consumer attitudes and extreme weather events.
“In the short term, barring unexpected developments, the strategic challenge centres on how much ‘radical greening' companies should undertake. Going green is expensive, but could pay dividends if consumer tastes and regulation shift quickly,” the report said.
New green laws could, for example, make non-green real estate assets obsolete, while caps on greenhouse gas emissions present a major threat to utilities.
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