Corporate Response to Climate Change

7 December 2009:

The business response to climate change has been described as 'timid' and 'sleepy' by two of six expert commentators interviewed for a new report from ACCA and the Global Reporting Initiative (GRI).

The report, entitled Getting It: Expert Perspectives on the Corporate Response to Climate Change, involved interviewing the following business and sustainability experts about the climate change business debate.

Professor Mervyn King, chair of the GRI's board, who believes that reporting can and does drive performance, and calls on the COP15 negotiators to deliver a clear message on the need to report more formally on climate change issues.

Paul Dickinson, chief executive of the Carbon Disclosure Project, who says that climate change is being thrust upon us and a collective failure to 'get it' is likely to mean the end of the world as we know it today. However, Dickinson is optimistic that business - after a slow start - will 'get it' in time.

Martin Hiller, climate change communications manager for the World Wildlife Fund (WWF), who calls the business response to climate change 'timid' as it has not been a big enough political issue and calls on heads of government to take the lead.

Tim Jackson, professor of sustainable development and director of the Research Group on Lifestyles, Values and Environment (RESOLVE) at the University of Surrey, who suggests that business faces various challenges and that, despite the importance attached to it by some, climate change is too often just one of these challenges. He thinks it is better to communicate to business the opportunities offered up by climate change, adding that equity and justice need to be at the heart of the developed/developing world dialogue.

Rory Sullivan, head of responsible investment from Insight Investment, who suggests that reporting may sometimes drive inappropriate behaviours, acknowledging that some of the largest companies have actually made considerable progress. But he also suggests that many could do better through improved data quality, better assessment of risks and opportunities.

Lord Turner, chair of the UK's Committee on Climate Change and chair of the Financial Services Authority (FSA), who calls for a clear legal framework within which developed countries commit to strengthening their reduction targets, saying this is the foundation stone for an effective global response to the challenges presented by climate change.