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How Businesses Can Make The Most Of Climate Change Commitments

How Businesses Can Make The Most Of Climate Change Commitments

The pandemic and the resulting economic turmoil have understandably preoccupied leaders in business as well as politics. But, as the world searches for a way out of the crisis, climate change and sustainability look like attracting the attention they merit. Sure, the issues were much-discussed before — especially at Davos and other gatherings where global elites sought to put their best faces on — but there was little sign of the words being translated into action. As consultants at Arthur D Little point out in the latest issue of the firm’s magazine Prism, “despite the availability of capital for green investment, both companies and investors remained cautious.” At the heart of this reticence has been a perception that the risks and scale of the task were too great for both governments and large companies to make the bold moves necessary to achieve the necessary rates of return.

Coronavirus has changed all that, of course. With economies across the world teetering, governments have been left with little choice but to prop them up. Having committed themselves to that, they need to find ways of extricating themselves while also nudging business towards new areas of activity. Whatever might have been thought in the early stages of the pandemic, when it was believed that the disruption to major economies might only last a few weeks, nobody now thinks there will be a return to business as usual.

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