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Video - WEF Global Risks Report

January 24, 2015 Add Comment Edit

The 2015 edition of the Global Risks report completes a decade of highlighting the most significant long-term risks worldwide, drawing on the perspectives of experts and global decision-makers.

The report is broken down into the following areas:

1. Global Risks Landscape 2015
2. Global Risks 2015 Interconnections Map
3. Risks-Trends 2015 Interconnections Map
4. Executive Opinion Survey 2014

Click here for more information on environmental issues in the Global Risks 2015 Report.

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Risks Associated with Environment, Climate, Water Crisis and Extreme Weather in the 2015 Global Risks Report
Infographic - Global Risks Report
Video - Climate Risks: Abrupt Unpredictable Irreversible Changes
Video - UN Report on the Business Risks from Climate Change
Managing Materiality, Risk and Stakeholder Engagement in Sustainability Reporting
Infographic - Sustainable Business Risk Management
Rise Initiative: Helping Businesses and Investors Manage the Risks Associated with Climate Change
Factoring Climate Risks for Business
Sectors Most at Risk from Climate Change
World Economic Forum Risk Report Singles Out Climate Change
World Economic Forum Report: '"Global Risks 2014"
Guide - Physical Risks from Climate Change (Ceres)
Global Risks Report 2013: Interconnectedness of the Economy

Video - Climate Risks: Abrupt Unpredictable Irreversible Changes

January 24, 2015 Add Comment Edit

People often think that global warming is a slow and gradual process that will take generations. However, this film from the American Association for the Advancement of Science (AAAS) (the world's largest scientific society), warns that we are at risk of pushing the earth’s climate system toward, "abrupt, unpredictable, and potentially irreversible changes."

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Risks Associated with Environment, Climate, Water Crisis and Extreme Weather in the 2015 Global Risks Report
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Video - 2015 Global Risks Report
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Infographic - Sustainable Business Risk Management
Rise Initiative: Helping Businesses and Investors Manage the Risks Associated with Climate Change
Factoring Climate Risks for Business
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World Economic Forum Report: '"Global Risks 2014"
Guide - Physical Risks from Climate Change (Ceres)
Global Risks Report 2013: Interconnectedness of the Economy

Infographic - Global Risks Report

January 20, 2015 Add Comment Edit

Risks Associated with Environment, Climate, Water Crisis and Extreme Weather in the WEF Report

January 20, 2015 Add Comment Edit

In the 2015 edition of the Global Risks report environmental risks are viewed as more prominent than economic risks. At the very top of the list are international conflicts although water crises rank highest in terms of impact. Overall, geopolitical and societal risks dominate as the biggest threat to global stability.

The 10th edition of the Global Risks report, was published on January 15, 2015 by the WEF. The annual report features an assessment by nearly 900 experts on the top 28 global risks in terms of likelihood and potential impact over the coming 10 years.

Despite a preponderance of economic concerns, the report ranks more environmental issues among the top risks than economic ones. This is a consequence of the negative assessment attributed to existing preparations to cope with challenges such as extreme weather and climate change.

In terms of likelihood of a given risk, extreme weather events are exceeded only by interstate conflict followed by failure of national governance systems, state collapse or crisis, and high structural unemployment or underemployment.

In terms of impact, the water crises was deemed to be the greatest risk facing the world followed by the spread of infectious diseases, weapons of mass destruction and failure of climate change adaptation.

The report expresses concern over the world’s ability to solve its most pressing societal issues, including economic, environmental and geopolitical risks.

In addition to ranking risks, the report features three examples of risk management and resilience practices related to extreme weather events.

Margareta Drzeniek-Hanouz, Lead Economist, World Economic Forum said, "seeking to return the world to a path of partnership, rather than competition, should be a priority for leaders as we enter 2015."

Click here to read the Global Risks 2015 Report.

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Video - 2015 Global Risks Report
Video - Climate Risks: Abrupt Unpredictable Irreversible Changes
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Managing Materiality, Risk and Stakeholder Engagement in Sustainability Reporting
Infographic - Sustainable Business Risk Management
Rise Initiative: Helping Businesses and Investors Manage the Risks Associated with Climate Change
Factoring Climate Risks for Business
Sectors Most at Risk from Climate Change
World Economic Forum Risk Report Singles Out Climate Change
World Economic Forum Report: '"Global Risks 2014"
Guide - Physical Risks from Climate Change (Ceres)
Global Risks Report 2013: Interconnectedness of the Economy

Course - Ecological Risk Assessment: Practice and Protocols

January 19, 2015 Add Comment Edit

This course will take place on March 17-18, 2015 from 9 a.m. - 4:30 p.m. at Trayes Hall - Douglass Campus Center, 100 George St, New Brunswick, NJ. Help your client understand how the ecological risk assessment process aids in developing realistic approaches to remediating sites.

For LSRP's,understand the role that ecological risk assessment plays in developing clean-up goals for your site. This two-day program will provide you with a comprehensive overview of regulatory expectations of ecological risk assessments from both federal and state perspectives.

On Day One, learn about methodologies and innovative approaches being employed to conduct ecological risk evaluations and assessments of aquatic and terrestrial ecosystems under CERCLA, RCRA, and various state mandates.

On Day Two, NJDEP representatives will take you through the new NJ guidance document for the completion of ecological risk assessments under the Licensed Site Remediation Professionals Program.

Help your client understand how the ecological risk assessment process aids in developing realistic approaches to remediating sites. For LSRP's, understand the role that ecological risk assessment plays in developing clean-up goals for your site.

This two-day program will provide you with a comprehensive overview of regulatory expectations of ecological risk assessments from both federal and state perspectives.

On Day One, learn about methodologies and innovative approaches being employed to conduct ecological risk evaluations and assessments of aquatic and terrestrial ecosystems under CERCLA, RCRA, and various state mandates.

On Day Two, NJDEP representatives will take you through the new NJ guidance document for the completion of ecological risk assessments under the Licensed Site Remediation Professionals Program.

Featured Topics

Applicability of Ecological Risk Assessments
Federal, State (NJ, NY and PA) and Regional Approaches
Regulatory Drivers
Development of Clean-up Goals
Hazard Assessment: How and Why
The US EPA's 8-Step Process
And much more!

Instructors

Charles Harman, AMEC Earth and Environmental
Nancy Hamill, NJ Department of Environmental Protection (NJDEP)
Allan Motter, NJ Department of Environmental Protection (NJDEP)

Click here to register.

Related
Risks Associated with Environment, Climate, Water Crisis and Extreme Weather in the WEF 2015 Report
Infographic - 2015 Global Risks Report
Video - WEF 2015 Global Risks Report
Video - Climate Risks: Abrupt Unpredictable Irreversible Changes
Video - UN Report on the Business Risks from Climate Change
Managing Materiality, Risk and Stakeholder Engagement in Sustainability Reporting
Infographic - Sustainable Business Risk Management
Rise Initiative: Helping Businesses and Investors Manage the Risks Associated with Climate Change
Factoring Climate Risks for Business
Sectors Most at Risk from Climate Change
World Economic Forum Risk Report Singles Out Climate Change
World Economic Forum Report: '"Global Risks 2014"
Guide - Physical Risks from Climate Change (Ceres)
Global Risks Report 2013: Interconnectedness of the Economy

Event - Risk Assessment & Remediation Conference, plus Awards Ceremony

October 12, 2014 Add Comment Edit

This conference and awards ceremony will take place on October 23-24, 2014 at the Grange Tower Bridge Hotel, 45 Prescot St., London, UK. Brownfield Briefing is the host for these two seminal events. The first of these, Risk Assessment and Remediation 2014, takes place in London on 23-24 October, with the first day focusing on remediation and the second on risk assessment (both days bookable separately).

The two-day conference offers delegates the very latest information, advice and guidance concerning advances, development and innovative technologies showcasing best practice, cost-effectiveness and sustainability in risk assessment and remediation.

During the two-day event, an expert panel comprising of more than twenty speakers - representing contractors, consultants, developers and government - will address topics including:

Government policy on contaminated land (including State of Contaminated Land report); Building effective monitoring and verification measures;
Sustainable Remediation: balancing cost, resources and environmental benefit;
Asbestos: remediation or re-use?;
Developer’s perspective – current market, planning changes, brownfield challenges and solutions;
Financier’s perspective – attitudes to risk and brownfield sites;
Emerging in-situ assessment and remediation technology;
Remedial options;
Stabilisation and solidification – a durable long term solution?;
In-situ thermal and accelerated bioremediation;
Site specific risk assessment;
Practicalities of applying new risk assessment guidance;
Expert Panel case studies;
The role of S4ULs in effective risk assessment;
What is the impact of climate change on risk assessment and remediation of land and groundwater;
Testing and verification of hazardous ground gas protection measures;
Remediation through real time VOC air boundary air monitoring.

The second event, Brownfield Briefing Awards 2014 - the flagship event for the brownfield community, and one of the highest industry accolades that a company can receive - takes place at the same venue on Thursday 23rd October, giving recognition to technical and conceptual excellence in projects that have been underway over the past 12 months.

For more information or to register click here.

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Event - SEJ Conference: Risk and Resilience

August 10, 2014 Add Comment Edit

SEJ's 24th annual environmental journalism conference is subtitled "Risk and Resilience." It will take place on September 3-7, 2014 in New Orleans.

South Louisiana is all about risk and resilience however, New Orleans is also a place where we can eat, drink, dance, listen to music and generally partake of the whole spectrum of humanity's offerings, and all this with the climate change monster right outside the door.

Participants will leave this conference motivated, empowered and well-connected with story leads, political context, new insights, contacts, research data, experiences and enhanced skills for effective storytelling on relevant issues.

For more information or to register click here.

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Risky Business: The Costs of Climate Change in the US

July 09, 2014 Add Comment Edit

The Risky Business report makes it harder for people, businesses and investors to ignore the veracity of climate change. The report details the economic costs ranging from rising sea levels, storm surges, agricultural impacts, labor productivity and public health.

Rather than focus on the costs of action, the non-partisan Risky Business report addresses the costs of inaction. The report focuses on the US and it is a deliberate attempt to depoliticise the issue and lay out the case for urgent action. Rather than address the impact of climate change on the world's poor (who will suffer disproportionately) the report focuses on the costs of climate change to Americans. The inference here is that action is a matter of national and self-interest.

The combination of President Obama's 2014 State of the Union address, the IPCC's AR5, the National Climate Assessment, and the EPA's move to reign in emissions from power plants are helping to move the world's largest economy from a nation of denial to a nation of climate action.

The Risky Business report estimates that

Coastal storms could cost as much as $35 billion per year in the US alone.
By 2100, $507 billion worth of property will be below sea level.
In some places agricultural yields could decline by up to 70 percent.
Warmer temperatures will require more energy for cooling costing residential and commercial ratepayers up to $12 billion per year in the next 25 years.

The report reiterates the obvious point that we cannot continue with business as usual without incurring catastrophic costs.

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Paulson Calls for Climate Action including a Carbon Tax

June 30, 2014 Add Comment Edit

Henry Paulson, is one of several prominent people behind the report, Risky Business: The Economic Risks of Climate Change in the United States.

Paulson is a Republican who was secretary of treasury under George Bush, he describes climate change as something that everybody must face regardless of their political allegiances. "[I]t’s going to be increasingly be difficult for anybody, regardless of party, to say there isn’t a problem," Paulson said. He goes on to say that we must act as we really have no choice, "the cost of inaction is quite high, because it's - it's actual radical risk taking."

"We’re staring down a climate bubble that poses enormous risks to both our environment and economy. The warning signs are clear and growing more urgent as the risks go unchecked,” Paulson wrote. “I feel as if I’m watching as we fly in slow motion on a collision course toward a giant mountain. We can see the crash coming, and yet we’re sitting on our hands rather than altering course."

Paulson said it would be folly for America to remain heavily invested in a carbon-intensive economy and he specifically called for a carbon tax.

"[S]ome people that oppose it [a carbon tax] are opposing it because they don't like the government playing a big role." Paulson told Fareed Zakaria. "And, you know, the perverse aspect of that is, frankly, those that are resisting taking action now are guaranteeing that the government will be playing a bigger role, because we're seeing now and we're going to see an increasing number of natural disasters, Mother Nature acts. We have forest fires, we have floods, we have big storms and storm surges, we have killer tornadoes. And what happens? When those events occur, one part of society gets hit particularly hard, and government comes in. And that's the role of government. Government should come in, but we all pay."

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Video - UN Report on the Business Risks from Climate Change

June 28, 2014 Add Comment Edit

This video is derived from an UN report reviews the risks faced by businesses around the world from climate change.

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Video - The Risky Business report (Michael Bloomberg)

June 28, 2014 Add Comment Edit

The American economy could face significant and widespread disruptions from climate change unless U.S. businesses and policymakers take immediate action to reduce climate risk, according to a new report, "Risky Business: The Economic Risks of Climate Change in the United States."

For more information click here.

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Video - Overview of the Risky Business report

June 28, 2014 Add Comment Edit

The US economy faces significant risks from unmitigated climate change. The Risky Business report presents a new approach to understanding these risks for key US business sectors, and provides business leaders with a framework for measuring and mitigating their own exposure to climate risk.

For more information click here.

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New Report on the Costs of Delaying Action on Climate Change

June 25, 2014 Add Comment Edit

The cost of inaction on climate change is explored in a new report from Bloomberg titled "Risky Business: The Economic Risks of Climate Change in the United States." The report explains how a warmer world will lead to cataclysmic storms, floods, droughts and fires which will cost lives, destroy property and disrupt businesses. The report was prepared by a bipartisan group of three former Treasury Secretaries (Hank Paulson, Robert Rubin and George Schultz), the former mayor of New York Michael Bloomberg and the billionaire investor Thomas Steyer.

According to the report as much as $106 billion worth of existing coastal property in the US will fall below sea level by 2050. This oceans could engulf as much as $507 billion worth of property by 2100.

While areas inland will not succumb to flooding, they will not be immune from the impacts of a warmer world. In the Midwest extreme heat will result in reduced crop yields and in the Southeast, extreme heat will have serious impacts on labor productivity. Both reduced crop yields and decreased productivity will have far reaching economic consequences.

As Bloomberg, co-chair of the Risky Business Project, says: "Damages from storms, flooding, and heat waves are already costing local economies billions of dollars—we saw that first hand in New York City with Hurricane Sandy. With the oceans rising and the climate changing, the Risky Business report details the costs of inaction in ways that are easy to understand in dollars and cents—and impossible to ignore."

To put this is terms an investor can understand, "Climate change is nature’s way of charging us compound interest for doing the wrong thing," explained Tom Steyer, an investor, philanthropist and president of NextGen Climate. "The longer we wait to address the growing risks of climate change, the more it will cost us all."

As explained by Dr. Al Sommer, dean emeritus of the Bloomberg School of Public Health at Johns Hopkins University, "if we stay on the ‘business as usual’ path, things only get worse from there—we shouldn’t take that risk."

Anything short of immediate action on climate change presents "risky business."

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Managing Materiality, Risk and Stakeholder Engagement in Sustainability Reporting

June 17, 2014 Add Comment Edit

For those engaged in sustainability reporting materiality is an impediment. This free eight page mini-report from the Ethical Corporation can help to manage materiality, risk and stakeholder engagement.

This report offers insights from pioneers in reporting and it specifically addresses how they developed a matrix that works for their business. This short read provides key insights from sustainability leaders on their approach to the materiality challenge and how you can translate it for use in your organization.

The report reviews:

The impacts your stakeholder trust
How to bounce-back when quantifying reputational risks to your business
What a focused and sophisticated engagement means for your external and internal stakeholders to build lasting relationships and inform the decision-making of the business
A condensed G4 guide

Click here download the report.

© 2014, Richard Matthews. All rights reserved.

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Rise Initiative: Helping Businesses and Investors Manage the Risks Associated with Climate Change

May 27, 2014 Add Comment Edit

On Monday May 19th, the United Nations (UN) launched an initiative that helps businesses to manage the risks associated with climate change. After a decade of record breaking economic losses and disruption due to climate change, risk management is an increasingly high priority issue for businesses all around the world. This UN initiative is called RISE and it shows the current and future effects of climate change. The idea is that by laying out current and future threats it can businesses to plan for disasters and invest wisely.

Those who are contributing to the RISE Project include the UN Office for Disaster Risk Reduction (UNISDR), PricewaterhouseCoopers (PwC), the Economist Intelligence Unit, Florida International University, Principles for Responsible Investment, AECOM and global insurance broker Willis.

As part of this initiative PwC will continue to work on disaster risk management with some of the world’s largest corporations, including Walmart and Citibank. In an ongoing effort they will continue to develop disaster risk management strategies and create voluntary industry standards intended to strengthen social demand for disaster risk-sensitive products. The Economist Intelligence Unit will develop risk analysis for economic and business forecasts that include disaster risk.

In addition to global businesses the R!SE Initiative is intended for asset owners, investment managers, insurers and re-insurers.

Risks like disruption from flooding, crucial materials to manufacturing becoming more and more expensive and damage to reputation all need different handling, and risk management approaches haven’t evolved as fast as the changing landscape, PwC says.

See PwC's February report titled, "How can resilience prepare companies for environmental and social change?"

For more information on the RISE initiative click here.

© 2014, Richard Matthews. All rights reserved.

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Factoring Climate Risks for Business

May 21, 2014 Add Comment Edit

The business community must understand the benefits of engaging climate change and the costs of failing to act. The sooner we factor climate risks the lower the ultimate price tag.

Businesses that are reluctant to assume the costs of mitigation and adaptation need to appreciate the costs associated with delays. According to some estimates, in the last two years alone delays in engaging climate change have cost us $8 trillion. The longer we wait the higher the price tag. BSR says that climate change will cost us $4 trillion by 2030 while the IEA estimates that we can save $115 trillion in fuel costs by 2050.

According to a CDP report some of the world's biggest brands are coming to terms with climate change related risks and costs.

These climate change risks and costs are a current concern and not just part of some distant future. Three years ago 26% of S&P 500 companies said that climate change poses a risk within the next five years, the most recent CDP study saw that number jump to almost half (45%). These costs include damage to facilities, reduced product demand, lost productivity and write-offs.

Half of S&P 500 companies said that these risks range from “more likely than not” to “virtually certain” which is up from slightly more than a third (34 %) three years ago.

Here is a brief sampling of some of the corporate risks and costs associated with climate change:

Dr. Pepper Snapple Group is concerned about extreme weather and the cost of water due to growing scarcity. They have assigned a price tag of $2.5 billion for their sales at risk.
The Gap expects higher costs for cotton due to climate change related drought impacts on precipitation in China.
Sempra Energy has indicated that wildfires in San Diego have accrued costs exceeding its $1.1 billion of liability insurance coverage.
Union Pacific reports a decrease in freight revenue due to droughts in 2012.
HP describes a decline in revenue of 7 percent due to the 2011 floods in Thailand.&
Consolidated Edison has indicated that the costs associated with Hurricane Sandy are close to half a billion dollars ($431 million).

© 2014, Richard Matthews. All rights reserved.

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Sectors Most at Risk from Climate Change

April 30, 2014 Add Comment Edit

Whether we are talking about impacts on manufacturing facilities from extreme weather events or supply chain disruptions due to resource scarcity, climate change poses a risk to businesses all around the world. If we continue with business as usual it is safe to assume that operating costs will go up across the board as the world warms. While all sectors have some degree of exposure, certain sectors are more vulnerable than others. Here is a summary of some of the sectors with the greatest exposure derived from a report titled, Physical Risks from Climate Change.
The agriculture, food, beverage and apparel sectors are vulnerable to drought and other forms of extreme weather. While the electric sector is susceptible to heat waves which can radically increase power demand. The mining sector is at risk because it is very water and energy intensive. Anything that impacts access to water or energy supply can interupt mining operations.

One of the sectors that entertains the greatest risk is the industry most responsible for climate change. The oil and gas sector is prone to extreme weather events because drilling operations are often located in places like deep water. Historically, the petrochemical industry has also been vulnerable to flooding.

While tourism is significantly reduced by extreme or anomalous weather, the industry most at risk from global warming is the insurance sector as it will incur the greatest costs from climate change.The insurance industry must pay for a wide range of global warming related events from violent storms to flooding. We have already seen evidence of this as evidenced by the trend towards increased insurance costs in recent years.

© 2014, Richard Matthews. All rights reserved.

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World Economic Forum Risk Report Singles Out Climate Change

February 03, 2014 Add Comment Edit

The World Economic Forum (WEF) 2014 Global Risks report released prior to the 44th WEF meeting on January 22nd in Davos singled out climate change as a leading risk factor. A total of 31 global systemic risks were identified in the report and climate change emerged as one of the top 5. The climate change related issues of extreme weather and water crises were among the chief concerns.

To help reduce the risks the report calls for mitigation and adaptation. “Even as governments and corporations are called upon to speed up greenhouse gas reduction, it is clear that the race is on not only to mitigate climate change but also to adapt. Failure to adapt has the biggest effect on the most vulnerable, especially those in least developed countries."

“Each risk considered in this report holds the potential for failure on a global scale; however, it is their interconnected nature that makes their negative implications so pronounced as together they can have an augmented effect,” said Jennifer Blanke, Chief Economist at the World Economic Forum. “It is vitally important that stakeholders work together to address and adapt to the presence of global risks in our world today.”

"Climate change is the key driver of uncertain and changing weather patterns, causing an increased frequency of extreme weather events such as floods and droughts.” The report also investigates the combined implications of these environmental risks on key development and security issues, such as food security and political and social instability, ranked 8th and 10th respectively.

To help address these concerns the report advocates the following: