More than half of executives in companies around the world think climate change is an important issue for their companies, according to a new study published in McKinsey Quarterly.
The survey of executives across a range of sectors and regions found that 60% believe climate change is important to the companies’ overall strategy and 70% see it as important to their corporate reputation and brand.
And, interestingly, executives’ perception of the impact climate change is likely to have on their companies aren’t as negative as one might imagine. About one-third view climate change as representing an equal balance of opportunities and risks, while 61% see the issues associated with climate change as having a positive effect on profits if managed well.
Awareness of climate change is being driven at least in part by the rising prospect of government regulation in the area, with 80% of global executives saying they expect some form of climate change regulation to come to their companies’ home country within five years.
It is not clear that climate change consciousness has made it to the top of the corporate totem pole however: 44% of chief executives (as distinct from executives in general) say climate change isn’t a significant item on their agenda.