The Changing Profile of Corporate Climate Change Risk

The Changing Profile of Corporate Climate Change Risk
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SYNOPSIS 

"An essential text for every business and investor struggling to understand the strategic and financial implications of climate change. Trexler and Kosloff provide practical suggestions for coming to grips with this new reality which institutions like ours have only just begun."  

ALAN MILLER, Principal Climate Change Specialist, International Finance Corporation

Many companies internalize the current stalemate over global climate policy into a perception that climate risk is no longer a critical issue. Business climate risks, however, include: 
  • operational and supply chain (physical) risk
  • brand risk
  • market-driven structural risk
  • liability risk
This DōShort will help business executives to: 
  1. Rethink their perceptions of climate risk 
  2. Evaluate whether their company is effectively positioned, and 
  3. Make informed and prudent business decisions about climate change risk in an environment rife with policy uncertainty. 
This book is for anyone who needs to assess and respond to climate risk, including business executives, risk managers, business lawyers, electric utilities, state utility regulators, and facilities and supply chain managers. The book has also been used as course material on a leading executive education course on business climate risk.

This book is part of the DōShorts Collection. Find out about individual and institutional subscriptions to this collection.



ENDORSEMENTS


“Climate change, and policies to manage it, present a tremendous challenge of risk management for many businesses. This is an extremely insightful analysis of how to understand and manage corporate climate risk.”

DR SIMON DIETZ,  Grantham Research Institute on Climate Change and the Environment, LSE


"Dr. Trexler and Ms. Kosloff make a compelling case for why a smart business executive should consider climate change risk when developing a corporate strategy.

They introduce concepts like the five elements of business climate change risk and the climate response tipping point, which are key to understanding the true nature of the problem from a business perspective. Strategic risk management is all about developing a corporate strategy that will enable the company to thrive under a 
range of possible futures; climate change risk substantially broadens that range. 

Rather than arguing over exactly what the ramifications of climate change will be – i.e., trying to predict the future – it makes far more sense to deal with climate change for what it is:  an uncertainty to be taken into account when developing one’s strategic plans." 

PATRICK LEACH, CEO, Decision Strategies, Inc.


"As the gap between accepted climate science and acceptable climate policy continues to grow, corporate risk from climate climate change increases accordingly. Whether its the physical effects of climate change -- think super-regional droughts, scarce water resources, transport and food supply disruptions -- or the risks from rapid regulatory or policy swings, corporations must recognize and prepare for climate change risks. Mark Trexler and Laura Kosloff use their 20+ years of work on climate change to put these risks into perspective and provide a clear-eyed way to think about climate risk, mitigation and adaptation. For senior executives who have not yet steeped themselves in climate change, this will be an informative and sobering read.  For the risk managers whose job it is to think about corporate risks, it provides a terrific framework for climate risk analysis."

BILL BUMPERS, Head of Climate Change Practice for Baker Botts LLP



ABOUT THE AUTHORS 

Dr Mark C. Trexler Dr Mark C. Trexler has 25 years of experience advising companies on climate change risks. He joined the World Resources Institute in Washington, DC in 1988, working on the first carbon offset projects. He founded Trexler Climate + Energy Services (TC+ES) in 1991, the first consultancy to specialize in corporate climate risk management. TC+ES chalked up a lot of ‘firsts’, including many more of the early carbon offset projects, the first corporate greenhouse gas (GHG) inventories, the first corporate climate risk management strategies, and the first climate neutral products and services. Mark has worked with companies around the world, including many electric utility and oil and gas companies, and has served as a lead author for the Intergovernmental Panel on Climate Change. Mark was Director of Climate Risk for Det Norske Veritas from 2009 to 2012.

Laura Kosloff has worked as an environmental attorney since 1985, including as Associate Editor of the Environmental Law Reporter in Washington, DC, as a trial attorney for the US Department of Justice, as General Counsel to Trexler Climate + Energy Services (TC+ES), and as Associate General Counsel to EcoSecurities Group plc. In her General Counsel roles she supported teams of more than 20 climate change consultants, managing all contract negotiations as well as wide-ranging HR and IP issues across offices in multiple countries. Laura was the first Chair of the American Bar Association’s Climate Change Committee, and has served in numerous leadership capacities within the organization, most recently chairing the group’s annual meeting.


CONTENTS 

Abstract 
The Authors 
1. Executive Summary 
2. Introduction 
3. The Elements of Climate Risk 
i. Climate change: What do we know for sure? 
ii. Climate change: What don’t we know for sure? 
iii. Societal vs business perspectives on risk  
4. The Challenge of Societal Climate Risk Management 
i. Climate change cost-benefit analysis 
ii. Mitigation vs adaptation – is that the question? 
iii. Perceiving climate risk – how our brains get in the way 
5. Scenarios of Climate Change Risk 
i. Climate scenario wildcards 
6. Bounding Business Climate Change Risks 
i. No good deed unpunished 
7. Assessing Corporate Climate Risk 
i. Is the problem worth it? 
ii. Can I succeed? 
8. Managing Corporate Climate Risk 
i. Direct corporate actions 
ii. Climate risk disclosure
iii. Climate risk positioning strategy 
iv. Encouraging societal risk management 
9. Conclusions: Reframing Our Approach to Climate Risk 
i. Climate quakes? 
10. Annotated Bibliography 
i. Evolving climate science
ii. Anticipating climate impacts
iii. Sources of climate inaction 
iv. Climate change and business 
v. What will it really take to address climate change? 
vi. Predicting the future Notes and References 

PRODUCT DETAILS

Title: The Changing Profile of Corporate Climate Change Risk
Author: Mark Trexler & Laura Kosloff
Publication Date: September 2012
Page extent: 85
Formats and ISBNs: 
pdf: 9781909293021
epub: 9781909293014
print: 9781909293007


Climate Change Management, Climate Change Risk, Climate Risk, Climate Risk Management, Corporate Climate Change Policy, Corporate Response Climate Change, Risk of Climate Change