Contents

• Climate Change a Business Issue
• Accounting and Climate Change
• Climate change and business sustainability reporting
• Corporate Strategies that address Climate Change
• Creation of task force to calculate the impacts of climate change
• Calculating Financial Constraints
• Accounting system and climate change
• Retrieving new sources of capital
• Climate Change and Performance Evaluation
• References

Description

Business corporate managers and leaders have realized that responding to climate change is one of the most important and critical corporate decision. Climate change poses risk as well as it offers valuable opportunities to the businesses. Therefore, companies are required to begin planning over this aspect. Prudential steps are now being taken by the corporations in order to address the issue of climate change. Elaborative and well directed planning concerning this issue will guide companies to attain improved competitive position hence ultimately the competitive position will direct companies towards the attainment of sustainability and improved performance.
The flexibility and fragmentation of the current business strategies and performance measurements has facilitated the evolution of the greener technology but it is also the essential source of weakness. We have already conceived the idea that the shift towards the low-carbon economy is under way and the business must be ready for it, especially in energy, heavy industry and transport which are the heart of modern carbon-intensive economy. In the current scenario economic growth must be fundamentally decoupled from emission growth by envisaging the sustainable strategies and appropriate performance measurement techniques. Climate change and resulting policies to lessen the greenhouse gases emissions create methodical risk throughout the entire economy, national income, health, affecting energy prices, and agriculture.