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Five questions every director should be asking their board about climate risk

How can business respond to climate change?

Climate change and sustainability has been placed firmly in the spotlight of media and society’s attention. Focus is now turning  even more to the business world to play its part.

Given the far-reaching impact and risk implications of climate change, there is a need for boards to better understand how it will affect their organisations and their sector so they can make better informed and more strategic decisions. However in a recent survey of ICAEW’s UK business members (Jun/July 2019), only 37% were aware of the World Economic Forum’s Climate Governance Principles and only 15% were aware of the FSB’s Taskforce on Climate Related Financial Disclosures (TCFD).