Climate change is considered one of the biggest global threats to human health in the 21st century. Given the nature of this threat (private) organizations need to be prepared for risks resulting from climate change. Results of “C-level surveys” show that the boards of many organizations are increasingly regarding climate change as a risk. However, it is not (yet) considered a top-ranked risk and is often seen as something for the long run. As private organizations in particular tend to plan for the shorter term, risks related to climate change might be ignored.
How do risk practitioners and continuity planners in organizations assess risks related to climate change? To get a better understanding of this the Business Continuity Institute and Siemens conducted a survey.
Half of the organizations plan for risks up to 3 years ahead. 11% of these have a horizon of only 1 year. 65% of the respondents say their organization is concerned about climate change and its impacts, and they are also aware off indirect impacts such as geopolitical ones. No less than 58% of the respondents even feel that climate change is already an important issue today. On the other hand only 2% of the respondents think their organization has done enough to consider and anticipate the effects of a changing climate.
For more information and results you can download the full report here.