Publishing its 2021 climate change risk and liability report, law firm Clyde & Co suggests that companies must face up to the social, economic, legal and regulatory demands of a low carbon economy.

According to the firm, since the publication of its first climate risk report in 2018, the conversation around climate change at an organisational level has grown implicitly.

Global emissions must halve by 2030 to keep global warming below 1.5 degrees, and with over 110 countries committed to becoming carbon neutral by 2025, this year’s United Nations COP26 climate change summit will set the pace for defining and strengthening policy response.

“With the countdown to net zero carbon emissions well under way, companies of all sizes are starting to see that beyond damage caused to the planet, climate change poses a threat to all aspects of their business,” the law firm said.

“As a result, they are looking for expertise and innovative solutions to help guide them. Clyde & Co’s report addresses the rapidly evolving risk and regulation environment and subsequent implications for all industries.”

The report examines in detail

• The impact of COVID-19 on the climate change agenda
• Today’s risk landscape
• Reporting requirements: what businesses need to know
• How good governance help address climate risk
• The insurance implications of these issues

Commenting on the launch, Nigel Brook, partner at Clyde & Co said: “As climate-related risks become more prevalent, we are seeing an increase in high-profile litigation resulting in significant losses for businesses.

“At Clyde & Co, we believe a proactive, rather than reactive, approach to the new risk environment is sensible, drawing on good governance and turning it into action. It represents an opportunity for businesses to build resilience against climate risk and transition to a new, and better, way of operating. Clyde & Co has developed market-leading expertise and a reputation for innovation in the response to climate change risks, helping organisation best position themselves to withstand shocks and seize the initiative.”

The full report can be downloaded at: Stepping up good governance to seize opportunities and reduce exposure : Clyde & Co

Global emissions must halve by 2030 to keep global warming below 1.5 degrees, and with over 110 countries committed to becoming carbon neutral by 2025, this year’s United Nations COP26 climate change summit will set the pace for defining and strengthening policy response.