Business

Business Resilience

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Leading global companies see extreme weather and other climate change impacts as current or near-term business risks. “Weathering the Storm: Building Business Resilience to Climate Change,” takes a close look at the state of resilience planning among global companies.
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Weathering the Storm: Building Business Resilience to Climate Change

Businesses face growing threats from extreme weather and climate change: damage to facilities, loss of water or power supplies, higher costs, and disruption of supply and distribution chains.

In a major report, Weathering the Storm: Building Business Resilience to Climate Change, C2ES provides a detailed snapshot of the state of resilience planning among a cross-section of global companies and outlines steps companies can take to better assess and manage their growing climate risks.

Click above to see our infographic, with key takeaways

Click here to view the infographic as a PDF

The report includes a comprehensive review of resilience practices among S&P Global 100 Index companies and detailed case studies of six companies in diverse sectors: American Water, Bayer, The Hartford Group, National Grid, Rio Tinto and Weyerhaeuser.  It also draws on input from a technical workshop with representatives of a wide range of industries.

Key Findings:

  • Ninety percent of S&P Global 100 Index companies identify extreme weather and climate change as current or future business risks.
  • Almost two-thirds (62 percent) say they are experiencing climate change impacts now, or expect to in the coming decade.
  • Companies are most concerned about the direct impacts of extreme weather on property, production and supplies, and indirect impacts on operational costs, such as higher prices for commodities or insurance.
  • Most companies are managing these risks through existing business continuity and emergency management plans. Only a few have used climate-specific tools to comprehensively assess risks.
  • Most companies (75 percent) also see new opportunities from a changing climate, including drought-resistant crops, storm-resistant building materials, and weather-related insurance products.

Recommendations:

  • Create a clearinghouse for reliable, up-to-date data and analytical tools. Companies need user-friendly, localized projections of climate changes and models that link projections to impacts that matter most.
  • Invest in public infrastructure resilience. Roads, bridges, ports, and other public resources used to transport goods and services to market must withstand extreme weather and climate impacts.
  • Consider resilience needs in regulation. Companies in regulated sectors, such as water, electricity, and insurance need regulators to be forward-looking and open to companies making the case for more spending on resilience.
  • Set up voluntary, public-private partnerships.  Bring together government and business expertise to improve resilience planning.

Additional Resources:

C2ES would like to acknowledge Bank of America for its collaboration and generous financial support.

 

Video of our July 17, 2013, launch event

Introduction and high-level discussion

Discussion on emerging business resilience practices

 

Video of our Sept. 23, 2013, event at Climate Week NYC

Opening Remarks

Discussion
Company Prespectives: Managing Climate Risk

 

Video of our Nov. 18, 2013, side event at the UN climate talks in Warsaw

 

Report Launch: Weathering the Storm: Building Business Resilience to Climate Change

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The Center for Climate and Energy Solutions (C2ES) releases a new report, "Weathering the Storm: Building Business Resilience to Climate Change," which explores the extent to which companies consider their vulnerabilities to a changing climate, and how those considerations may be incorporated into business planning and decision-making. C2ES President Eileen Claussen will lead a CEO-level conversation and Janet Peace, C2ES Vice President for Market and Business Strategies, will lead a discussion of individual case studies. 

Weathering the Storm: Building Business Resilience to Climate Change

July 17, 2013 | Washington, DC

Welcome
Eileen Claussen
President, Center for Climate and Energy Solutions

Panel I: Extreme Weather and Climate Change: Growing Risks to Business

Jeffry E. Sterba
President & Chief Executive Officer, American Water

Thomas B. King
Executive Director & President, National Grid US

Moderated by:
Eileen Claussen
President, Center for Climate and Energy Solutions

Panel II:  Emerging Business Practices in Building Resilience

Jeff Williams
Director of Climate Consulting, Entergy

Jay Bruns
Vice President for Public Policy, The Hartford

Jeffrey Hopkins
Policy Adviser, Economics & Environment, Rio Tinto

Sara Kendall
Vice President Corporate Affairs & Sustainability, Weyerhaeuser Company

Moderated by:
Janet Peace
Vice President for Market and Business Strategies, Center for Climate and Energy Solutions


Wrap-up 

Janet Peace
Vice President for Market and Business Strategies, Center for Climate and Energy Solutions

Conservatives debate a carbon tax

The discussion of a carbon tax continues. Conservatives met recently in Washington, D.C., to debate the mertis of a carbon taxt at an event hosted by the R Street Institute and the Heartland Institute, featuring representatives with opposing viewpoints from four conservative think tanks.

A 2013 C2ES brief found that a carbon tax was one way to put a price on carbon emissions, reduce greenhouse gas emissions, and raise significant revenue for the federal government. A tax starting at about $16 per ton of carbon dioxide (CO2) in 2014 and rising 4 percent over inflation per year would raise more than $1.1 trillion in the first 10 years, and more than $2.7 trillion over a 20-year period. This revenue could fund a wide range of things, including deficit reduction, a reduction in statutory corporate income tax rates from 35 percent to 28 percent (often cited as a goal by both conservatives and liberals), and research and development into low-emitting technology.  Importantly, such a carbon tax could also reduce CO2 emissions by 9.3 billion tons over 20 years.

Video: What BELC companies are saying about climate and energy

The Business Environmental Leadership Council (BELC) is the largest U.S.-based group of companies focused exclusively on advancing climate and energy solutions. The 33 members together represent over $2 trillion in revenue and 3 million employees, and span a diverse range of sectors including electric power, chemicals, manufacturing, high technology, financial services, metals and mining, oil and gas, and transportation. Since the Council's inception in 1998, BELC member companies have consistently demonstrated their commitment to taking action on climate and energy issues.

Watch the videos below to hear more about what BELC member companies are doing to address our nation's climate and energy problems.

 

Hewlett-Packard

Sustainability in HP’s operations
John Hinshaw, Executive VP, Technology and Operations, highlights how technology and initiatives can help HP and its customers succeed while taking care of the environment.
 

 

HP Project Moonshot
See how HP is defining disruption with the introduction of HP Moonshot.
 

 

Perspective by Eileen Claussen
Eileen Claussen, President of C2ES, describes how technologies such as HP’s Managed Print Services make business sense while also benefiting the planet.
 

 

HP Labs Net-Zero Energy Data Center
Cullen Bash, Interim Director, Sustainable Ecosystems Research Group, HP Labs, demonstrates that it's a reality to power data centers with renewable energy or micro grids.
 

 

University of Iowa: Information Technology Facility
With the help of HP Critical Facilities Services, the University of Iowa designed and built a LEED platinum-certified data center that combines business and environmental performance.

 

 

Johnson Controls, Inc.
 

Empire State Building Saves Millions with Energy Efficiency
One year after an innovative building retrofit project, the Empire State Building is ahead of plan and has exceeded its year one energy-efficiency guarantee by five percent, saving $2.4 million and establishing a commercial real estate model for reducing costs, maximizing return on investment, increasing real estate value, and protecting the environment.

 

 

NRG Energy
 

See What NRG is doing to move clean energy forward
Learn about NRG's commitment to providing a healthier energy future with wind, nuclear, solar and biomass, and its pioneering work making the EV movement a reality.

 

 

Shell
 

More Energy, Less CO2
Demand for energy is growing incredibly fast. Meeting it while limiting CO2 emissions is a global challenge. But the world can make choices now to help achieve this. One approach is to use more natural gas, the cleanest-burning fossil fuel, instead of coal. Another vital step is developing carbon capture and storage technology, which captures CO2 emissions emitted by power plants and industry and stores them safely underground. Out on the road, more efficient cars and low-carbon biofuels offer the most practical way to reduce vehicle emissions. Shell is working on all of these areas and using its expertise to help meet customer needs into the future.
 

 

Understanding Carbon Capture and Storage
Howard Herzog a senior research engineer from MIT explains what carbon capture and storage (CCS) is and why it has such a vital role in addressing energy and climate change.
 

 

Shell’s Quest Carbon Capture and Storage Project
Shell's proposed Carbon Capture and Storage Project, called Quest, will capture more than one million tonnes of CO2 per year from the Scotford Upgrader in Alberta, Canada and store it deep underground, beneath several layers of impermeable rock layers. The Quest Project will be the first CCS Project to be implemented at an oil sands upgrading operation.
 

 

Carbon capture storage: Innovative technology to meet the energy and climate change challenges
What is carbon capture and storage (CCS) and how important could it be to tackling climate change? Leading scientists, academics, environmentalists and business leaders discuss the need for CCS. The film features experts from Imperial College London, Stanford University, the Climate Institute, the Bellona Foundation and Shell.
 

 

Quest CCS Project: Reducing CO2 emissions from Shell's Athabasca Oil Sands Project
Carbon Capture and Storage technology, or CCS, has been identified as one of the most promising technologies to make a significant contribution to worldwide efforts to mitigate climate change by reducing emissions from large industrial facilities. Beginning in 2015, Shell's Carbon Capture and Storage Project, called Quest, will capture more than one million tonnes of CO2 per year from the Scotford Upgrader in Alberta, Canada and store it deep underground, beneath several layers of impermeable rock layers. The Quest Project will be the first CCS Project in the world to be implemented at an oil sands upgrading operation. View this short animation to find out how the Quest Project will use existing technologies used in the oil and gas industry for decades to: capture, transport and inject CO2 safely and permanently more than two km underground. 
 

 

 

Weyerhaeuser

Business Roundtable with Weyerhaeuser CEO and President, Dan Fulton
Weyerhaeuser was included in the Business Roundtable's 2010 Sustainability Report. In this video, Weyerhaeuser's president and CEO, Dan Fulton, discusses the company's commitment to sustainable forestry and business practices.
 

 

Forests are the Sustainable Solution
Watch Weyerhaeuser Solutions President, Ray Risco, speak about world population growth, demand on natural resources and how sound forestry practices are key to a sustainable future.
 

 

Webinar: What is Climate Leadership? Examples and Lessons Learned in Supply Chain Management

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Two 2013 Climate Leadership Award winners in the supply chain category will discuss how they set aggressive greenhouse gas reduction goals and how they are at the leading edge of managing GHGs in their organizational supply chains.Mike Ray, Vice President of Business Integration and Transformation, IBM Integrated Supply ChainAndy Renger, Supply Chain Manager, San Diego Gas & ElectricREGISTER FOR THE WEBINAR https://www2.gotomeeting.com/register/606192074]

Two 2013 Climate Leadership Award winners in the supply chain category will discuss how they set aggressive greenhouse gas reduction goals and how they are at the leading edge of managing GHGs in their organizational supply chains.
Mike Ray, Vice President of Business Integration and Transformation, IBM Integrated Supply Chain
Andy Renger, Supply Chain Manager, San Diego Gas & Electric
REGISTER FOR THE WEBINAR https://www2.gotomeeting.com/register/606192074

Climate Leadership Awards

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Fifteen organizations and two individuals have been honored with Climate Leadership Awards for their accomplishments in driving climate action and reducing greenhouse gas emissions. The awards are given by EPA's Center for Corporate Climate Leadership, with C2ES and two other nonprofits. Awardees come from a wide array of sectors, including finance, manufacturing, retail, technology, higher education and local government.
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The “Instability Ingredient” and Business Risk

Businesses have always had to predict and manage risks. Those risks include the potential impact of extreme weather such as floods, storms and drought on a company's supply chain, power supply, and property.

But now companies must find a way to factor in the "instability ingredient" -- climate change -- which is likely to make weather more unpredictable, extreme -- and costly -- in the future.

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