Business has rising concerns over climate

news, nationalTwo new surveys have highlighted the concerns of business in dealing with climate change, which risks putting trillions of dollars at stake unless rapid action is undertaken. Two thirds of executives expect climate change to have a high or very high impact on their organisation’s strategy and operations over the coming three years, highlighting the urgency to act. It found 89 per cent agree that with immediate action, the worst impacts of climate change can be limited. Previous Deloitte modelling for the Business Council of Australia shows inaction on climate change could cost the economy $3.4 trillion by 2070. Meanwhile, new research by Mastercard found 76 per cent of Australian organisations say sustainability is critical for success in their industry.