{"id":141868,"date":"2026-03-18T13:40:08","date_gmt":"2026-03-18T13:40:08","guid":{"rendered":"https:\/\/www.ecoonline.com\/?post_type=whitepaper&#038;p=141868"},"modified":"2026-03-18T13:40:13","modified_gmt":"2026-03-18T13:40:13","slug":"an-executives-guide-to-climate-risk-management","status":"publish","type":"whitepaper","link":"https:\/\/www.ecoonline.com\/en-au\/guides\/executives-guide-to-climate-risk-management\/","title":{"rendered":"An executives guide to climate risk management"},"content":{"rendered":"\n<section class=\"Pegasus__Container w-full hidden sm:block  relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow has-background\" style=\"   border-radius:0px;background-image:url(&apos;https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/12\/guide-ehs-header-background.svg&apos;);background-position:50% 30%;background-size:cover;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t<div class=\"row-background w-full h-full absolute top-0 left-0 overflow-hidden\" style=\"background-image:url('https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/12\/guide-ehs-header-background.svg');background-position:50% 30%;background-size:cover;\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  container\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-96194f10 wp-block-columns-is-layout-flex\" style=\"padding-top:var(--wp--preset--spacing--50);padding-bottom:var(--wp--preset--spacing--30)\">\n<div class=\"wp-block-column is-vertically-aligned-top h-full flex flex-col is-layout-flow wp-container-core-column-is-layout-8a368f38 wp-block-column-is-layout-flow\" style=\"flex-basis:60%\">\n<p class=\"has-teal-color has-text-color has-link-color has-x-large-font-size wp-elements-9b8e1b1285f720ba2ac080bf5ce9accb\"><strong>ECOONLINE GUIDE<\/strong><\/p>\n\n\n\n<div style=\"height:2vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-xx-large-font-size wp-elements-f2529a58fa77eb22a37efdd8b479ce08\"><strong>An executives guide to climate risk management<\/strong><\/h1>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"Post__Details flex flex-col items-center md:flex-row md:justify-between md:items-center py-5 border-t gap-4 border-black\/10 min-h-20\">\n\n    <div class=\"flex gap-3 items-center\">\n      <a href=\"https:\/\/www.ecoonline.com\/en-au\/whitepapers\/\" target=\"_self\" class=\"flex gap-2 has-small-font-size items-center\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"7\" height=\"12\" fill=\"none\"><path fill=\"#000\" d=\"m.221 5.468 5-5a.751.751 0 1 1 1.063 1.063l-4.47 4.468 4.469 4.47A.752.752 0 0 1 5.22 11.53l-5-5a.75.75 0 0 1 .001-1.063Z\"\/><\/svg><span>Back to all<\/span><\/a>\n\n      <div class=\"bg-black\/10 w-px h-7\"><\/div>\n            \n      <span class=\"p-1 bg-white rounded has-small-font-size\">Guide<\/span>\n            \n    <\/div>\n\n    <div class=\"hidden md:flex md:gap-3 md:items-center\">\n                    <div class=\"\">\n\n                \n                                        \n                \n                <div class=\"flex gap-2 items-center\">\n                                        <div class=\"\">\n                        <p class=\"!m-0 has-small-font-size\">By Laura Fitzgerald<\/p>\n                    <\/div>\n\n                <\/div>\n\n            <\/div>\n            <div class=\"bg-black\/10 w-px h-7\"><\/div>\n                <div class=\"has-small-font-size\">18 March 2026<\/div>\n        <div class=\"bg-black\/10 w-px h-7\"><\/div>\n        \n        <div x-data=\"postShare\" class=\"Post__Share relative z-50\">\n\n            <button class=\"flex gap-1 items-center has-small-font-size\" @click.prevent=\"sharePost = !sharePost\">\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" fill=\"none\"><path stroke=\"#0E0E0E\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"1.25\" d=\"M12 5.333a2 2 0 1 0 0-4 2 2 0 0 0 0 4ZM4 10a2 2 0 1 0 0-4 2 2 0 0 0 0 4ZM12 14.666a2 2 0 1 0 0-4 2 2 0 0 0 0 4ZM5.727 9.007l4.553 2.653M10.273 4.34 5.727 6.993\"\/><\/svg>\n                <span>Share<\/span>\n            <\/button>\n\n            <div 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class=\"flex  flex-col gap-3 items-center mt-3 md:hidden\">\n        <div class=\"flex gap-3 items-center\">\n                        <div class=\"\">\n\n                  \n                                            \n                  \n                  <div class=\"flex gap-2 items-center\">\n                                            <div class=\"\">\n                          <p class=\"!m-0 has-small-font-size\">By Laura Fitzgerald<\/p>\n                      <\/div>\n\n                  <\/div>\n\n              <\/div>\n              <div class=\"bg-black\/10 w-px h-7\"><\/div>\n                    <div class=\"has-small-font-size\">18 March 2026<\/div>\n        <\/div>\n\n        <div class=\"flex gap-3 items-center\">\n          \n          \n                  \n\n          <div x-data=\"postShare\" class=\"Post__Share relative z-50\">\n\n              <button class=\"flex gap-1 items-center has-small-font-size\" @click.prevent=\"sharePost = !sharePost\">\n                  <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" fill=\"none\"><path stroke=\"#0E0E0E\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"1.25\" d=\"M12 5.333a2 2 0 1 0 0-4 2 2 0 0 0 0 4ZM4 10a2 2 0 1 0 0-4 2 2 0 0 0 0 4ZM12 14.666a2 2 0 1 0 0-4 2 2 0 0 0 0 4ZM5.727 9.007l4.553 2.653M10.273 4.34 5.727 6.993\"\/><\/svg>\n                  <span>Share<\/span>\n              <\/button>\n\n              <div x-show=\"sharePost\" class=\"a2a_kit a2a_kit_size_32 a2a_default_style bg-white flex flex-col right-0 top-full absolute p-2.5 rounded-2xl border border-[#E4E7EC] shadow-xl min-w-max\" data-a2a-url=\"https:\/\/www.ecoonline.com\/en-au\/guides\/executives-guide-to-climate-risk-management\/\" data-a2a-title=\"\" @click.away=\"sharePost = !sharePost\">\n                  <a class=\"a2a_button_linkedin !pl-2 !pr-4 !py-2 hover:bg-[#F1F1F2] rounded-md flex gap-1 items-center\">\n                      <span>LinkedIn<\/span>\n                  <\/a>\n     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style=\"border-radius:8px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20);flex-basis:30%\">\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   border-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n<section x-data=\"PegasusMediaBlock\"\n         x-intersect.threshold.25=\"onIntersect\"\n         class=\"Media relative mask- w-full layout h-full align  \" \n         style=\"min-height: 200px; ;aspect-ratio:unset;\">\n                                <div class=\"relative w-full h-full overflow-hidden\" style=\"min-height: 200px\">\n                <picture ><source srcset=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1.webp 1080w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-300x168.webp 300w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-1024x574.webp 1024w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-768x430.webp 768w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-640x359.webp 640w\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1.webp\" width=\"1080\" height=\"605\" class=\"absolute-center w-full !h-full object-cover\" alt=\"Carbon20footprint20GHG20emissions-4-1\" loading=\"lazy\" sizes=\"(min-width: 767px) 1080px, (min-width: 375px) 1024px\"  \/><\/picture>\n    <\/div>\n\n        \n            <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"justify-self-end has-white-color has-text-color has-link-color has-large-font-size wp-elements-4c8392972f7a23ae27443bfbcbbbc04c\"><strong>An executives guide to climate risk management<\/strong><\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full block sm:hidden md:hidden  relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   border-radius:0px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  container\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9bfbf0d6 wp-block-columns-is-layout-flex\" style=\"padding-top:var(--wp--preset--spacing--50);padding-bottom:var(--wp--preset--spacing--20)\">\n<div class=\"wp-block-column is-vertically-aligned-top h-full flex flex-col is-layout-flow wp-container-core-column-is-layout-8a368f38 wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<p class=\"has-teal-color has-text-color has-link-color has-small-font-size wp-elements-a6f040c9a8563139bb434d598a15a086\"><strong>ECOONLINE GUIDE<\/strong><\/p>\n\n\n\n<div style=\"height:2vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-xx-large-font-size wp-elements-f2529a58fa77eb22a37efdd8b479ce08\"><strong>An executives guide to climate risk management<\/strong><\/h1>\n\n\n\n<div style=\"height:2vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   border-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n<section x-data=\"PegasusMediaBlock\"\n         x-intersect.threshold.25=\"onIntersect\"\n         class=\"Media relative mask- w-full layout h-full align  \" \n         style=\"min-height: 300px; ;aspect-ratio:unset;\">\n                                <div class=\"relative w-full h-full overflow-hidden\" style=\"min-height: 300px\">\n                <picture ><source srcset=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1.webp 1080w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-300x168.webp 300w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-1024x574.webp 1024w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-768x430.webp 768w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1-640x359.webp 640w\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2025\/06\/Carbon20footprint20GHG20emissions-4-1.webp\" width=\"1080\" height=\"605\" class=\"absolute-center w-full !h-full object-cover\" alt=\"Carbon20footprint20GHG20emissions-4-1\" loading=\"lazy\" sizes=\"(min-width: 767px) 1080px, (min-width: 375px) 1024px\"  \/><\/picture>\n    <\/div>\n\n        \n            <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"Post__Details flex flex-col items-center md:flex-row md:justify-between md:items-center py-5 border-t gap-4 border-black\/10 min-h-20\">\n\n    <div class=\"flex gap-3 items-center\">\n      <a href=\"https:\/\/www.ecoonline.com\/en-au\/whitepapers\/\" target=\"_self\" class=\"flex gap-2 has-small-font-size items-center\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"7\" height=\"12\" fill=\"none\"><path fill=\"#000\" d=\"m.221 5.468 5-5a.751.751 0 1 1 1.063 1.063l-4.47 4.468 4.469 4.47A.752.752 0 0 1 5.22 11.53l-5-5a.75.75 0 0 1 .001-1.063Z\"\/><\/svg><span>Back to all<\/span><\/a>\n\n      <div class=\"bg-black\/10 w-px h-7\"><\/div>\n            \n      <span class=\"p-1 bg-white rounded has-small-font-size\">Guide<\/span>\n            \n    <\/div>\n\n    <div class=\"hidden md:flex md:gap-3 md:items-center\">\n                    <div class=\"\">\n\n                \n                                        \n                \n                <div class=\"flex gap-2 items-center\">\n                                        <div class=\"\">\n                        <p class=\"!m-0 has-small-font-size\">By Laura Fitzgerald<\/p>\n                    <\/div>\n\n                <\/div>\n\n            <\/div>\n            <div class=\"bg-black\/10 w-px h-7\"><\/div>\n                <div class=\"has-small-font-size\">18 March 2026<\/div>\n        <div class=\"bg-black\/10 w-px h-7\"><\/div>\n        \n        <div x-data=\"postShare\" class=\"Post__Share relative z-50\">\n\n            <button class=\"flex gap-1 items-center has-small-font-size\" @click.prevent=\"sharePost = !sharePost\">\n                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wp-block-pegasus-container-is-layout-flow\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full \" style=\"background:linear-gradient(180deg,rgb(249,248,241) 1%,rgb(255,255,255) 1%);\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  container\">\n\n<div class=\"wp-block-columns relative is-layout-flex wp-container-core-columns-is-layout-62b4a1bf wp-block-columns-is-layout-flex\" style=\"padding-top:0;padding-bottom:var(--wp--preset--spacing--40)\">\n<div class=\"wp-block-column is-vertically-aligned-stretch is-layout-flow wp-block-column-is-layout-flow\" style=\"border-radius:8px;padding-top:var(--wp--preset--spacing--20);padding-right:0;padding-bottom:var(--wp--preset--spacing--20);padding-left:0;flex-basis:30%\">\n<section class=\"Pegasus__Container w-full hidden sm:block  sticky top-0 relative h-fit  text-content-dark mobile-stacking-standard    max-md:!relative is-layout-flow wp-block-pegasus-container-is-layout-flow wp-container-1 is-position-sticky\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div style=\"height:15vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   sticky top-0 relative h-fit overflow-hidden text-content-dark mobile-stacking-standard    max-md:!relative is-layout-flow wp-block-pegasus-container-is-layout-flow wp-container-3 is-position-sticky\" style=\"  padding-top:var(--wp--preset--spacing--10);padding-bottom:var(--wp--preset--spacing--10);padding-left:var(--wp--preset--spacing--10);padding-right:var(--wp--preset--spacing--10); border-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-white-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<p class=\"justify-self-end has-large-font-size\"><strong>GO TO SECTION:<\/strong><\/p>\n\n\n<div class=\"Guide__Chapters\" x-data=\"guideChapters\" @scroll.window=\"checkPosition()\">\n\n    <ol x-ref=\"navLinks\" class=\"flex flex-col\">\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#climate-risk' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#climate-risk' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#climate-risk\" class=\"Guide__Chapter-link\">What is climate risk?<\/a>\n        <\/li>\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#the-impact' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#the-impact' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#the-impact\" class=\"Guide__Chapter-link\">The impact of climate risk on business<\/a>\n        <\/li>\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#understanding' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#understanding' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#understanding\" class=\"Guide__Chapter-link\">Understanding your climate risk exposure<\/a>\n        <\/li>\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#utilising' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#utilising' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#utilising\" class=\"Guide__Chapter-link\">Utilising technology to report on climate risk<\/a>\n        <\/li>\n\n    \n    <\/ol>\n\n<\/div>\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-chat-gpt-button is-style-chat-gpt-button--2\"><a class=\"wp-block-button__link wp-element-button\"><strong>Summarise with ChatGPT<\/strong><\/a><\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-stretch is-layout-flow wp-container-core-column-is-layout-8a368f38 wp-block-column-is-layout-flow\" style=\"flex-basis:5%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-stretch flex flex-col is-layout-flow wp-container-core-column-is-layout-470e7e12 wp-block-column-is-layout-flow\" style=\"padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:70%\" id=\"content-column\">\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard   shadow-xl is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-left-radius:100px;border-bottom-right-radius:1px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-white-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<p class=\"has-large-font-size\">According to a recent report by the&nbsp;<a href=\"https:\/\/www.weforum.org\/publications\/the-cost-of-inaction-a-ceo-guide-to-navigating-climate-risk\/\" target=\"_blank\" rel=\"noreferrer noopener\">World Economic Forum<\/a>, climate-related disasters have caused over <strong>$3.6 trillion<\/strong> in damage since 2000.<\/p>\n\n\n\n<p class=\"has-large-font-size\">The same report goes on to state that without urgent action, global GDP could <strong>drop by up to 22%<\/strong> by 2100.<\/p>\n\n\n\n<p class=\"has-large-font-size\">These figures don\u2019t touch on the human cost. Millions of people are displaced due to evacuation of areas effected by fires, floods, droughts and all manner of climate-related events, with thousands dying as a direct result.<\/p>\n\n\n\n<p class=\"has-large-font-size\">The economic domino effect of this is severe disruption to the global supply chain, with knock-on effects that stretch far beyond the initial location. <\/p>\n\n\n\n<p class=\"has-large-font-size\">The effects of climate change are undeniable. It&#8217;s now time for executives to examine how resilient their organisations are to withstanding climate impact, protecting the safety of their operations and their people.<\/p>\n\n\n\n<p class=\"has-large-font-size\">This guide is here to help you on the first step of your journey.<\/p>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); \" id=\"climate-risk\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>What is climate risk?<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">The&nbsp;<a href=\"https:\/\/climate-adapt.eea.europa.eu\/en\/knowledge\/tools\/adaptation-support-tool\/step-2-1#:~:text=and%20Evaluating%20Adaptation-,2.1%20Understanding%20climate%20risks,-The%20terminology%20and\" target=\"_blank\" rel=\"noreferrer noopener\">EU Mission on Adaptation to Climate Change<\/a>&nbsp;provides the following explanation of climate risk. This explanation is taken from the UN\u2019s Intergovernmental Panel on Climate Change (IPCC):&nbsp;<\/p>\n\n\n\n<p class=\"has-large-font-size\"><em>\u201cA climate risk (e.g. drought damage in agriculture) results from interactions between climate-related hazards (e.g. the frequency and intensity of droughts) with exposure (e.g. agriculture land) and vulnerability (e.g. drought resistance of crops, presence or absence of irrigation) of natural and human systems.\u201d<\/em>&nbsp;<\/p>\n\n\n\n<p class=\"has-large-font-size\">Therefore, a climate risk is the result of the following factors: <strong>hazard, exposure and vulnerability<\/strong>.<\/p>\n\n\n\n<p class=\"has-large-font-size\"><a href=\"https:\/\/www.ipcc.ch\/report\/ar6\/wg2\/downloads\/report\/IPCC_AR6_WGII_Annex-II.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">The IPCC<\/a> goes on to say that each of these 3 factors are subject to \u2018uncertainty in terms of magnitude\u2019 and \u2018likelihood of occurrence\u2019, effected over time by factors such as socio-economic changes and human decision making.<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>What are the different kinds of climate risk?<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">According to the Taskforce on Climate-Related Financial Disclosures (TCFD), there are considered to be <a href=\"https:\/\/assets.bbhub.io\/company\/sites\/60\/2021\/10\/FINAL-2017-TCFD-Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2 categories<\/a> of climate risk;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-large-font-size\">Physical Risk<\/li>\n\n\n\n<li class=\"has-large-font-size\">Transitional Risk&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"has-large-font-size\">In this section, we will give you an overview of both categories, as well as their sub-divisions.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading has-medium-font-size\"><strong>Physical risk<\/strong><\/h4>\n\n\n\n<p class=\"has-large-font-size\">Physical risk refers to the potential for adverse impacts on people, assets and eco-systems due to climate \u2013 related hazards.<\/p>\n\n\n\n<p class=\"has-large-font-size\">This category is further sub-divided into:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-large-font-size\">Acute hazards<\/li>\n\n\n\n<li class=\"has-large-font-size\">Chronic hazards<\/li>\n<\/ul>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"wp-block-heading has-medium-font-size\"><strong>Acute hazards<\/strong><\/h5>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color has-large-font-size wp-elements-76950971ee6904b8b3eae6decc399020\">According to the US Environment Protection Agency (EPA) acute hazards are those that are \u2018event-driven\u2019. These include (but are not limited to) the increased severity of extreme weather events such as:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\">Cyclones<\/li>\n\n\n\n<li>Hurricanes<\/li>\n\n\n\n<li>Heat or cold waves (cold snaps)<\/li>\n\n\n\n<li>Floods<\/li>\n\n\n\n<li>Wildfires<\/li>\n\n\n\n<li>Droughts<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"wp-block-heading has-medium-font-size\"><strong>Chronic hazards<\/strong><\/h5>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color has-large-font-size wp-elements-20756b4264a959c6c9cde2b3d363be43\">Chronic hazards are associated with longer-term shifts in climate patterns, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\">Higher global temperatures<\/li>\n\n\n\n<li>Rising sea levels<\/li>\n\n\n\n<li>Change in precipitation patterns<\/li>\n\n\n\n<li>Water scarcity<\/li>\n\n\n\n<li>Prolonged heatwaves<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading has-medium-font-size\"><strong>Transitional Risk<\/strong><\/h4>\n\n\n\n<p class=\"has-large-font-size\">Transitional risk refers to the potential adverse consequences of transitioning to a lower-carbon economy. The <a href=\"https:\/\/assets.bbhub.io\/company\/sites\/60\/2021\/10\/FINAL-2017-TCFD-Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Recommendations<\/a> of the TCFD refers to the possibility of \u201cextensive policy, legal, technology, and market changes\u201d to address additional climate change related requirements.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Transitional risks may pose varying levels of financial and reputational risk to organisations. It chiefly depends on the nature, speed and focus of these changes, and how an organisation responds to them.<\/p>\n\n\n\n<p class=\"has-large-font-size\">For example, organisations may expose themselves to litigation or regulatory penalties for failing to keep up with emissions reporting requirements. Other transitional risks can include:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\">Changing public policy<\/li>\n\n\n\n<li class=\"has-large-font-size\">Compliance issues<\/li>\n\n\n\n<li>Consumer\/ social pressure<\/li>\n\n\n\n<li>Market risk<\/li>\n\n\n\n<li>Increase in low-carbon alternatives in certain industries<\/li>\n\n\n\n<li>Reputational risk<\/li>\n<\/ul>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:0;padding-right:0; \" id=\"the-impact\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-right:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30); \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>The impact of climate risk on business<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">Now that we have a better idea of the concept of climate risk, let\u2019s take a look at how it can affect different business functions across a range of industries.<\/p>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-left-radius:8px;border-top-right-radius:8px;border-bottom-left-radius:8px;border-bottom-right-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full \" style=\"background:linear-gradient(0deg,rgb(160,221,112) 72%,rgb(227,245,212) 72%);\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:20%\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/grain-icon-green-bg.svg\" alt=\"Grain Icon Green Bg\" class=\"wp-image-141753\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-large-font-size wp-elements-ba1cbeb2a2e86f97267d69c0ac6af78e\"><strong>Climate risk in agriculture<\/strong><\/h3>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column has-teal-90-background-color has-background is-layout-flow wp-container-core-column-is-layout-2703eb16 wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/outlook-severe-icon.svg\" alt=\"Outlook Severe Icon\" class=\"wp-image-141755\" style=\"object-fit:cover\"\/><\/figure>\n\n\n\n<p class=\"has-clay-color has-text-color has-link-color has-large-font-size wp-elements-5a2f8cf43958a272823103f0fab9480f\">According to the <a href=\"https:\/\/www.unepfi.org\/themes\/climate-change\/climate-risks-in-the-agriculture-sector\/\" target=\"_blank\" rel=\"noreferrer noopener\">UN Environment Program Finance Initiative<\/a>, &nbsp;physical climate risks are of particular concern in agriculture. Heatwaves and drought not only affect crop growth, but livestock and feed supplies. This can result in higher production costs and agriculture loss.<\/p>\n\n\n\n<p class=\"has-clay-color has-text-color has-link-color has-large-font-size wp-elements-58d5ccf901c19c6503d47808cd85478f\">Frequent flooding and severe storms reduce the quality and production of both crops and feed.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-background-color has-background is-layout-flow wp-container-core-column-is-layout-2703eb16 wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/transitional-risk-icon.svg\" alt=\"Transitional Risk Icon\" class=\"wp-image-141756\"\/><\/figure>\n\n\n\n<p class=\"has-teal-color has-text-color has-link-color has-large-font-size wp-elements-c54894215f679b5aaa93594e13290287\">In terms of transition risks, businesses in the agricultural industry could be affected by carbon emission regulations on a national and international level. Such regulations can greatly impact production and operating costs, and in some cases lead to a <a href=\"https:\/\/www.unepfi.org\/wordpress\/wp-content\/uploads\/2023\/03\/Agriculture-Sector-Risks-Briefing.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">decline in revenue<\/a> for farmers.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-left-radius:8px;border-top-right-radius:8px;border-bottom-left-radius:8px;border-bottom-right-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full \" style=\"background:linear-gradient(0deg,rgb(6,52,55) 74%,rgb(255,124,51) 74%);\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:20%\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/lorry-icon-orange-bg.svg\" alt=\"Lorry Icon Orange Bg\" class=\"wp-image-141767\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-large-font-size wp-elements-7d87744f3a329c231986f38af59760b5\"><strong>Climate risk in transportation<\/strong><\/h3>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns has-clay-background-color has-background is-layout-flex wp-container-core-columns-is-layout-2873d9f5 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/outlook-severe-icon-orange.svg\" alt=\"Outlook Severe Icon Orange\" class=\"wp-image-141765\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-teal-color has-text-color has-link-color wp-elements-321fc2d4603ad9d25bac054669ef37aa is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">The <a href=\"https:\/\/www.unepfi.org\/wordpress\/wp-content\/uploads\/2024\/05\/Climate-Risks-in-the-Transportation-Sector-1.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">UN identifies<\/a> some key physical risks in the transportation industry, including increasing severity of flooding and storms. This can cause ongoing operational disruptions and severe damage to existing infrastructure.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Rising heat levels and heatwaves can affect businesses in the transportation industry whose mechanical elements are not designed to work in these temperatures. For example, increased wear on tires due to heat stress.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns has-border-color is-layout-flex wp-container-core-columns-is-layout-2873d9f5 wp-block-columns-is-layout-flex\" style=\"border-color:#FF7C33;border-width:2px;border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/transitional-risk-icon-orange.svg\" alt=\"Transitional Risk Icon Orange\" class=\"wp-image-141768\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-color has-text-color has-link-color wp-elements-685a5789c03c0d063a1efa06165a79e5 is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Transitional risks in this industry could include increasing carbon prices, which may lead to an increase in emissions costs. New advancements in EVs and low carbon fuels represent growing competition in the sector.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Reputational risk should be considered as well. For example, freight companies, airlines and other businesses whose activities are linked to high CO2 emissions may face increased social, investor and regulatory pressure to decarbonise.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-left-radius:8px;border-top-right-radius:8px;border-bottom-left-radius:8px;border-bottom-right-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:20%\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/factory-icon-blue-bg.svg\" alt=\"Factory Icon Blue Bg\" class=\"wp-image-141772\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-large-font-size wp-elements-4cf7ece6dbda0fd6505e12601c9c2857\"><strong>Climate risk in the industrial sector<\/strong><\/h3>\n\n\n\n<p class=\"has-teal-color has-text-color has-link-color has-large-font-size wp-elements-3ab2397c4fb76fcd80ad234045c0ea11\">This sector includes manufacturing, petrochemicals, steel and iron, and construction inputs, among many others.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20); border-top-right-radius:16px;border-bottom-left-radius:16px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-teal-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-55efa2f3 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/outlook-severe-icon-blue.svg\" alt=\"Outlook Severe Icon Blue\" class=\"wp-image-141773\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-color has-text-color has-link-color wp-elements-640b806bb6a789e90b37171cd2371639 is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Physical risks in this sector include increasing risks to production facilities such as factories and disruption to supply chains as a result of intense storms and flooding.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-55efa2f3 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<div class=\"wp-block-column is-vertically-aligned-center has-border-color has-sky-border-color is-layout-flow wp-container-core-column-is-layout-14a0a060 wp-block-column-is-layout-flow\" style=\"border-width:2px;border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--10);padding-right:var(--wp--preset--spacing--10);padding-bottom:var(--wp--preset--spacing--10);padding-left:var(--wp--preset--spacing--10);flex-basis:50%\">\n<p class=\"has-sky-color has-text-color has-link-color wp-elements-189d80fe1a6511b76aacbcd6560351d5\"><strong><a href=\"https:\/\/www.unepfi.org\/wordpress\/wp-content\/uploads\/2023\/04\/Climate-Risks-in-the-Industrials-Sector.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">According to the UN<\/a><strong>,<\/strong><\/strong><\/p>\n\n\n\n<p class=\"has-sky-color has-text-color has-link-color has-xx-large-font-size wp-elements-f844089419edba52615b007ec7487605\"><strong>44%<\/strong><\/p>\n\n\n\n<p class=\"has-sky-color has-text-color has-link-color wp-elements-54f2eb0306a04ad1449be492805c64ab\"><strong>of the water used by humans is in this sector.<\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-color has-text-color has-link-color wp-elements-b1bce8b3bcfcc5c9776aa2cfbe267aca is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Water-intensive manufacturing operations such as textiles, food and beverage, pharmaceuticals and electronics are at risk due the increasing frequency of droughts.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns has-sky-background-color has-background is-layout-flex wp-container-core-columns-is-layout-2873d9f5 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/transitional-risk-icon-teal.svg\" alt=\"Transitional Risk Icon Teal\" class=\"wp-image-141774\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-teal-color has-text-color has-link-color wp-elements-ee70b080c9c7b57345b4ba17db5de467 is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Transition risks: Increasing carbon price will hit members of this sector as many are high carbon emitters.<\/p>\n\n\n\n<p class=\"has-large-font-size\">There is also the risk of the impacts of increased regulatory requirements, especially concerning the environment. The reputation risk of being associated with industrial pollution is also a factor.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-right:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30); \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>Other general business impacts<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\"><strong>Financial<\/strong> \u2013 have you considered asset impairment or increased insurance costs as a result of physical\/ transition climate risk? Have you considered how it impacts investment opportunities or direct customers?<\/li>\n\n\n\n<li class=\"has-large-font-size\"><strong>Supply Chain <\/strong>\u2013 how are your suppliers acting on physical\/ transition risk? Have they accounted for extreme weather and resource scarcity?<\/li>\n\n\n\n<li><strong>Governance<\/strong> \u2013 is your business required to comply with some form of mandatory reporting such as <a href=\"https:\/\/insights.ecoonline.com\/uki\/reports\/eu-csrd-readiness-report\/\">CSRD<\/a>? Are investors\u2019 expectations moving towards sustainability?<\/li>\n\n\n\n<li><strong>Growth and strategy<\/strong> \u2013 Have you accounted for the impact of new and emerging low-carbon technologies on the market?<\/li>\n<\/ul>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); \" id=\"understanding\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>Understanding your climate risk exposure<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">With an increased awareness of the kinds of climate risks that can affect businesses, we\u2019ll turn to how you can start to manage these risks. Information and data gathering is the crucial first step in your journey.<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>1.<\/strong> <strong>Identify your climate risks and vulnerabilities<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">What are the physical risks that your business faces? Refer back to Chapter 3 for some industry examples. Be sure to differentiate between acute hazards (e.g floods) and chronic hazards (e.g. changes in precipitation patterns).<\/p>\n\n\n\n<p class=\"has-large-font-size\">For transitional risks, consider the effects of stricter regulation and increased reporting requirements. What financial impacts are there from transitioning to lower carbon emitting processes? What are the reputational risks from failing to do so?<\/p>\n\n\n\n<p class=\"has-large-font-size\">According to <a href=\"https:\/\/climate-adapt.eea.europa.eu\/en\/mission\/knowledge-and-data\/regional-adaptation-support-tool\/step-2-assessing-climate-change-risks-and-vulnerabilities\/step-2-2\" target=\"_blank\" rel=\"noreferrer noopener\">EU Climate-ADAPT<\/a>, at this stage, organisations should be collecting data on climate risks in their region. This information (past weather patterns, data on exposure and vulnerability) should come from a variety of reputable sources. These can include:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li>Internal experts within an organisation<\/li>\n\n\n\n<li>National meteorological services e.g. Bureau of Meteorology (Australia), Met Eireann (Ireland), M\u00e9t\u00e9o-France (France), The Met Office (U.K), National Weather Service (USA), Meteorological Service of Canada.<\/li>\n\n\n\n<li>National\/ International climate adaption sources, e.g. National Adaptation Plan (Australia), EU Mission on Adaptation to Climate Change Portal, EUCRA, The Pan-Canadian Framework on Clean Growth and Climate Change, US National Adaptation and Resilience Planning Strategy.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-large-font-size\">For transition risks, businesses can leverage the <a href=\"https:\/\/www.ngfs.net\/en\" type=\"link\" id=\"https:\/\/www.ngfs.net\/en\">Network for Greening the Financial System<\/a> (NGFS) scenarios to understand how shifts in market dynamics, legal and policy frameworks, technological advancements, and reputational considerations could impact their business models and financial performance.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--50);padding-right:0;padding-left:0; \" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-white-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"box-shadow:var(--wp--preset--shadow--deep)\"><section x-data=\"PegasusMediaBlock\"\n         x-intersect.threshold.25=\"onIntersect\"\n         class=\"Media relative mask- w-full align has-aspect-ratio\" \n         style=\"min-height: ; ;aspect-ratio:auto;min-height:unset;\">\n                            \n    <div class=\"w-full h-0 relative\" style=\"padding-bottom: 56.25%\">\n        <iframe loading=\"lazy\" title=\"Top 5 ESG Software Features for Automated GHG Reporting and Climate Risk\" src=\"https:\/\/www.youtube.com\/embed\/a32whIGmMQ4?feature=oembed&#038;rel=0&#038;autoplay=&#038;mute=&#038;muted=&#038;loop=&#038;controls=1\" width=\"640\" height=\"360\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" class=\"video-embed w-full h-full absolute-center\" controls=\"1\"  frameborder=\"0\"><\/iframe>\n    <\/div>\n\n\n        \n            <\/section>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>2. Perform a climate change risk assessment<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">A climate change risk assessment is usually undertaken at an enterprise level. It is used to analyse identified risks in terms of exposure, potential impact and risk mitigation.<\/p>\n\n\n\n<p class=\"has-large-font-size\">According to <a href=\"https:\/\/climate-adapt.eea.europa.eu\/en\/mission\/knowledge-and-data\/regional-adaptation-support-tool\/step-2-assessing-climate-change-risks-and-vulnerabilities\/step-2-1\" target=\"_blank\" rel=\"noreferrer noopener\">EU Climate-ADAPT<\/a>, a comprehensive climate change risk assessment should:<\/p>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">1.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Define<\/strong> the assessment\u2019s \u201cscope, objectives, timeframe, climate change scenarios and geographical coverage\u201d<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">2.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Identify <\/strong>past and current risks<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">3.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Anticipate <\/strong>future risks and opportunities<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">4.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Evaluate <\/strong>and review your findings<\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"has-large-font-size\">Predictive models (<a href=\"https:\/\/www.ecoonline.com\/esg-software\/carbon-accounting\/\">climate scenarios<\/a>) should be used at this stage to project the impact of different scenarios on the business. For example, how would different warming scenarios (e.g., 1.5\u00b0C, 2\u00b0C, 4\u00b0C) affect your business operations, supply chain and markets as a whole?<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>3. Gathering your data<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">Usually, a business would begin by measuring its <a href=\"https:\/\/online.hbs.edu\/blog\/post\/climate-change-mitigation-strategies\" target=\"_blank\" rel=\"noreferrer noopener\">baseline carbon footprint<\/a>. This is done by:<\/p>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">I.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\">Identifying emissions sources (GHG Protocol: Scope 1,2 and 3 emissions)<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">II.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\">Collecting emission source data related to company activity over a set assessment period and using emission factors to convert the sources into emission totals.<\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"has-large-font-size\">The activities of each identified emissions source are multiplied by a relevant emission factor. For example, an emission factor for electricity (in kg CO2e\/kWh) would be multiplied by the total electricity consumption of an office within the organisation (in kWh).<\/p>\n\n\n\n<p class=\"has-large-font-size\">The business&#8217;s carbon footprint is then determined by totaling the emissions produced by each individual emissions source, usually aggregated by scope.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column has-canope-background-color has-background is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:2px\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>How do I begin the data gathering process?<\/strong><\/p>\n\n\n\n<div style=\"height:2vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-black-color has-clay-background-color has-text-color has-background has-link-color has-border-color has-canope-border-color wp-element-button\" href=\"https:\/\/www.ecoonline.com\/en-au\/esg-software\/esg-reporting\/climate-risk-software\/\" style=\"border-width:2px\"><strong>Read more<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-large-font-size\">After you have your carbon footprint, it is time to explore strategies that will enable a shift to low emissions alternatives. This can include transitioning to renewable energy sources. Be sure to set emission reduction targets at this point. You also need to record the activities that you are undertaking to achieve your reduction targets.<\/p>\n\n\n\n<p class=\"has-large-font-size\">The <a href=\"https:\/\/unfccc.int\/topics\/adaptation-and-resilience\/the-big-picture\/introduction\" target=\"_blank\" rel=\"noreferrer noopener\">UNFCCC<\/a> defines climate adaption as <em>\u2018adjustments in ecological, social or economic systems in response to actual or expected climatic stimuli and their effects\u2019<\/em>.<\/p>\n\n\n\n<p class=\"has-large-font-size\">While mitigation usually takes place over a long period of time, climate adaptation plans focus on rapid action. This might involve investing in flood defence systems, early warning systems for extreme heat, or the climate proofing of buildings.<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>4.<\/strong> <strong>Disclosure and reporting<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">Whether you are engaging with mandatory or voluntary climate reporting requirements, here are some of the most prominent sustainability frameworks and standards:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li>Task Force on Climate-Related Financial Disclosures (TCFD)<\/li>\n\n\n\n<li>International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards<\/li>\n\n\n\n<li>Corporate Sustainability Reporting Directive (CSRD)<\/li>\n\n\n\n<li>European Sustainability Reporting Standards (ESRSs)<\/li>\n\n\n\n<li>Carbon Disclosure Project (CDP)<\/li>\n\n\n\n<li>California SB261<\/li>\n\n\n\n<li>UK Sustainability Reporting Standards (UK SRS)<\/li>\n\n\n\n<li>Australian Sustainability Reporting Standards (ASRS) and AASB S2<\/li>\n<\/ul>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column has-canope-background-color has-background is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:2px\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Want a more in-depth understanding of these frameworks and standards?<\/strong><\/p>\n\n\n\n<p class=\"has-teal-color has-text-color has-link-color has-large-font-size wp-elements-5f89c94b8779164c91132dc1c77e373d\">Check out our detailed blog on the subject.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-black-color has-clay-background-color has-text-color has-background has-link-color has-border-color has-canope-border-color wp-element-button\" href=\"https:\/\/www.ecoonline.com\/blog\/esg-reporting-frameworks-and-standards-understanding-the-difference\/\" style=\"border-width:2px\"><strong>Read more<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); \" id=\"utilising\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>Utilising technology to report on climate risk<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">As we have seen from this guide, there are a lot of factors to consider when trying to establish the climate risk faced by your business.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Activities such as researching past weather patterns and manual data entry can lead to significant time being spent on admin. They are all the more difficult if you are not familiar with managing this kind of data.<\/p>\n\n\n\n<p class=\"has-large-font-size\">EcoOnline\u2019s <a href=\"https:\/\/www.ecoonline.com\/en-au\/esg-software\/esg-reporting\/climate-risk-software\/\" type=\"link\" id=\"https:\/\/www.ecoonline.com\/en-au\/esg-software\/esg-reporting\/climate-risk-software\/\">climate risk software<\/a> uses accurate, science-backed data to assess the physical risks that your organisation faces.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Gain an in-depth understanding of your climate exposure risk under low, middle-of the road AND high emission scenarios.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<section x-data=\"PegasusMediaBlock\"\n         x-intersect.threshold.25=\"onIntersect\"\n         class=\"Media relative mask-  align  \" \n         style=\"min-height: ; \">\n                                    <picture ><source srcset=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary.webp 1275w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-232x300.webp 232w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-791x1024.webp 791w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-768x994.webp 768w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-1187x1536.webp 1187w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-835x1080.webp 835w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-278x360.webp 278w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-495x640.webp 495w\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary.webp\" width=\"1275\" height=\"1650\" class=\"image-original \" alt=\"DummieCorp Headquarters CR Exposure Summary\" loading=\"lazy\" sizes=\"(min-width: 767px) 1275px, (min-width: 375px) 1187px\"  \/><\/picture>\n\n        \n            <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>(Note that the above summary is for illustrative purposes only, and does not reflect real-world entities)<\/p>\n\n\n\n<p class=\"has-large-font-size\">Want to understand your exposure to physical climate risk?<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-black-color has-white-background-color has-text-color has-background has-link-color has-border-color has-canope-border-color wp-element-button\" href=\"https:\/\/www.ecoonline.com\/en-au\/esg-software\/esg-reporting\/climate-risk-software\/\" style=\"border-width:2px\"><strong>See our climate risk software in action<\/strong><\/a><\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full block sm:hidden md:hidden  relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  container\">\n\n<div class=\"wp-block-columns relative is-layout-flex wp-container-core-columns-is-layout-62b4a1bf wp-block-columns-is-layout-flex\" style=\"padding-top:0;padding-bottom:var(--wp--preset--spacing--40)\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\" style=\"border-radius:8px;padding-top:var(--wp--preset--spacing--20);padding-right:0;padding-bottom:var(--wp--preset--spacing--20);padding-left:0;flex-basis:30%\">\n<section class=\"Pegasus__Container w-full hidden sm:block  sticky top-0 relative h-fit  text-content-dark mobile-stacking-standard    max-md:!relative is-layout-flow wp-block-pegasus-container-is-layout-flow wp-container-4 is-position-sticky\" style=\"   \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div style=\"height:15vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   sticky top-0 relative h-fit overflow-hidden text-content-dark mobile-stacking-standard    max-md:!relative is-layout-flow wp-block-pegasus-container-is-layout-flow wp-container-6 is-position-sticky\" style=\"  padding-top:var(--wp--preset--spacing--10);padding-bottom:var(--wp--preset--spacing--10);padding-left:var(--wp--preset--spacing--10);padding-right:var(--wp--preset--spacing--10); border-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-white-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<p class=\"justify-self-end has-large-font-size\"><strong>GO TO SECTION:<\/strong><\/p>\n\n\n<div class=\"Guide__Chapters\" x-data=\"guideChapters\" @scroll.window=\"checkPosition()\">\n\n    <ol x-ref=\"navLinks\" class=\"flex flex-col\">\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#climate-risk-mobile' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#climate-risk-mobile' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#climate-risk-mobile\" class=\"Guide__Chapter-link\">What is climate risk?<\/a>\n        <\/li>\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#the-impact-mobile' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#the-impact-mobile' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#the-impact-mobile\" class=\"Guide__Chapter-link\">The impact of climate risk on business<\/a>\n        <\/li>\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#understanding-mobile' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#understanding-mobile' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#understanding-mobile\" class=\"Guide__Chapter-link\">Understanding your climate risk exposure<\/a>\n        <\/li>\n\n    \n        <li class=\"Guide__Chapters-link relative\" :class=\"currentLink === '#utilising-mobile' ? 'selected-link' : 'deselected-link'\">\n            <div class=\"Guide__Chapters-dot\">\n              <span class=\"block w-3 h-3 rounded-full bg-color-jade border border-black\" :class=\"currentLink === '#utilising-mobile' ? 'bg-color-jade' : 'bg-color-none'\"><\/span>\n            <\/div>\n            <a href=\"#utilising-mobile\" class=\"Guide__Chapter-link\">Utilising technology to report on climate risk<\/a>\n        <\/li>\n\n    \n    <\/ol>\n\n<\/div>\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-chat-gpt-button is-style-chat-gpt-button--5\"><a class=\"wp-block-button__link wp-element-button\"><strong>Summarise with ChatGPT<\/strong><\/a><\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-stretch flex flex-col is-layout-flow wp-container-core-column-is-layout-470e7e12 wp-block-column-is-layout-flow\" style=\"padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:70%\" id=\"content-column\">\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:0;padding-right:0; \" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-white-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<p class=\"has-large-font-size\">According to a recent report by the&nbsp;<a href=\"https:\/\/www.weforum.org\/publications\/the-cost-of-inaction-a-ceo-guide-to-navigating-climate-risk\/\" target=\"_blank\" rel=\"noreferrer noopener\">World Economic Forum<\/a>, climate-related disasters have caused over <strong>$3.6 trillion<\/strong> in damage since 2000.<\/p>\n\n\n\n<p class=\"has-large-font-size\">The same report goes on to state that without urgent action, global GDP could <strong>drop by up to 22%<\/strong> by 2100.<\/p>\n\n\n\n<p class=\"has-large-font-size\">These figures don\u2019t touch on the human cost. Millions of people are displaced due to evacuation of areas effected by fires, floods, droughts and all manner of climate-related events, with thousands dying as a direct result.<\/p>\n\n\n\n<p class=\"has-large-font-size\">The economic domino effect of this is severe disruption to the global supply chain, with knock-on effects that stretch far beyond the initial location. The effects of climate change are undeniable. It&#8217;s now time for executives to examine how resilient their organisations are to withstanding climate impact, protecting the safety of their operations and their people.<\/p>\n\n\n\n<p class=\"has-large-font-size\">This guide is here to help you on the first step of your journey.<\/p>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:0;padding-right:0; \" id=\"climate-risk-mobile\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>What is climate risk?<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">The&nbsp;<a href=\"https:\/\/climate-adapt.eea.europa.eu\/en\/knowledge\/tools\/adaptation-support-tool\/step-2-1#:~:text=and%20Evaluating%20Adaptation-,2.1%20Understanding%20climate%20risks,-The%20terminology%20and\" target=\"_blank\" rel=\"noreferrer noopener\">EU Mission on Adaptation to Climate Change<\/a>&nbsp;provides the following explanation of climate risk. This explanation is taken from the UN\u2019s Intergovernmental Panel on Climate Change (IPCC):&nbsp;<\/p>\n\n\n\n<p class=\"has-large-font-size\"><em>\u201cA climate risk (e.g. drought damage in agriculture) results from interactions between climate-related hazards (e.g. the frequency and intensity of droughts) with exposure (e.g. agriculture land) and vulnerability (e.g. drought resistance of crops, presence or absence of irrigation) of natural and human systems.\u201d<\/em>&nbsp;<\/p>\n\n\n\n<p class=\"has-large-font-size\">Therefore, a climate risk is the result of the following factors: <strong>hazard, exposure and vulnerability<\/strong>.<\/p>\n\n\n\n<p class=\"has-large-font-size\"><a href=\"https:\/\/www.ipcc.ch\/report\/ar6\/wg2\/downloads\/report\/IPCC_AR6_WGII_Annex-II.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">The IPCC<\/a> goes on to say that each of these 3 factors are subject to \u2018uncertainty in terms of magnitude\u2019 and \u2018likelihood of occurrence\u2019, effected over time by factors such as socio-economic changes and human decision making.<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>What are the different kinds of climate risk?<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">According to the Taskforce on Climate-Related Financial Disclosures (TCFD), there are considered to be <a href=\"https:\/\/assets.bbhub.io\/company\/sites\/60\/2021\/10\/FINAL-2017-TCFD-Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2 categories<\/a> of climate risk;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-large-font-size\">Physical Risk<\/li>\n\n\n\n<li class=\"has-large-font-size\">Transitional Risk&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"has-large-font-size\">In this section, we will give you an overview of both categories, as well as their sub-divisions.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading has-medium-font-size\"><strong>Physical risk<\/strong><\/h4>\n\n\n\n<p class=\"has-large-font-size\">Physical risk refers to the potential for adverse impacts on people, assets and eco-systems due to climate \u2013 related hazards.<\/p>\n\n\n\n<p class=\"has-large-font-size\">This category is further sub-divided into:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-large-font-size\">Acute hazards<\/li>\n\n\n\n<li class=\"has-large-font-size\">Chronic hazards<\/li>\n<\/ul>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"wp-block-heading has-medium-font-size\"><strong>Acute hazards<\/strong><\/h5>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color has-large-font-size wp-elements-76950971ee6904b8b3eae6decc399020\">According to the US Environment Protection Agency (EPA) acute hazards are those that are \u2018event-driven\u2019. These include (but are not limited to) the increased severity of extreme weather events such as:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\">Cyclones<\/li>\n\n\n\n<li>Hurricanes<\/li>\n\n\n\n<li>Heat or cold waves (cold snaps)<\/li>\n\n\n\n<li>Floods<\/li>\n\n\n\n<li>Wildfires<\/li>\n\n\n\n<li>Droughts<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"wp-block-heading has-medium-font-size\"><strong>Chronic hazards<\/strong><\/h5>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color has-large-font-size wp-elements-20756b4264a959c6c9cde2b3d363be43\">Chronic hazards are associated with longer-term shifts in climate patterns, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\">Higher global temperatures<\/li>\n\n\n\n<li>Rising sea levels<\/li>\n\n\n\n<li>Change in precipitation patterns<\/li>\n\n\n\n<li>Water scarcity<\/li>\n\n\n\n<li>Prolonged heatwaves<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading has-medium-font-size\"><strong>Transitional Risk<\/strong><\/h4>\n\n\n\n<p class=\"has-large-font-size\">Transitional risk refers to the potential adverse consequences of transitioning to a lower-carbon economy. The <a href=\"https:\/\/assets.bbhub.io\/company\/sites\/60\/2021\/10\/FINAL-2017-TCFD-Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Recommendations<\/a> of the TCFD refers to the possibility of \u201cextensive policy, legal, technology, and market changes\u201d to address additional climate change related requirements.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Transitional risks may pose varying levels of financial and reputational risk to organisations. It chiefly depends on the nature, speed and focus of these changes, and how an organisation responds to them.<\/p>\n\n\n\n<p class=\"has-large-font-size\">For example, organisations may expose themselves to litigation or regulatory penalties for failing to keep up with emissions reporting requirements. Other transitional risks can include:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\">Changing public policy<\/li>\n\n\n\n<li class=\"has-large-font-size\">Compliance issues<\/li>\n\n\n\n<li>Consumer\/ social pressure<\/li>\n\n\n\n<li>Market risk<\/li>\n\n\n\n<li>Increase in low-carbon alternatives in certain industries<\/li>\n\n\n\n<li>Reputational risk<\/li>\n<\/ul>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:0;padding-right:0; \" id=\"the-impact-mobile\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-right:0;padding-left:0; \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>The impact of climate risk on business<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">Now that we have a better idea of the concept of climate risk, let\u2019s take a look at how it can affect different business functions across a range of industries.<\/p>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-left-radius:8px;border-top-right-radius:8px;border-bottom-left-radius:8px;border-bottom-right-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full \" style=\"background:linear-gradient(0deg,rgb(160,221,112) 72%,rgb(227,245,212) 72%);\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:20%\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/grain-icon-green-bg.svg\" alt=\"Grain Icon Green Bg\" class=\"wp-image-141753\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-large-font-size wp-elements-ba1cbeb2a2e86f97267d69c0ac6af78e\"><strong>Climate risk in agriculture<\/strong><\/h3>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column has-teal-90-background-color has-background is-layout-flow wp-container-core-column-is-layout-2703eb16 wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/outlook-severe-icon.svg\" alt=\"Outlook Severe Icon\" class=\"wp-image-141755\" style=\"object-fit:cover\"\/><\/figure>\n\n\n\n<p class=\"has-clay-color has-text-color has-link-color has-large-font-size wp-elements-5a2f8cf43958a272823103f0fab9480f\">According to the <a href=\"https:\/\/www.unepfi.org\/themes\/climate-change\/climate-risks-in-the-agriculture-sector\/\" target=\"_blank\" rel=\"noreferrer noopener\">UN Environment Program Finance Initiative<\/a>, &nbsp;physical climate risks are of particular concern in agriculture. Heatwaves and drought not only affect crop growth, but livestock and feed supplies. This can result in higher production costs and agriculture loss.<\/p>\n\n\n\n<p class=\"has-clay-color has-text-color has-link-color has-large-font-size wp-elements-58d5ccf901c19c6503d47808cd85478f\">Frequent flooding and severe storms reduce the quality and production of both crops and feed.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-background-color has-background is-layout-flow wp-container-core-column-is-layout-2703eb16 wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/transitional-risk-icon.svg\" alt=\"Transitional Risk Icon\" class=\"wp-image-141756\"\/><\/figure>\n\n\n\n<p class=\"has-teal-color has-text-color has-link-color has-large-font-size wp-elements-c54894215f679b5aaa93594e13290287\">In terms of transition risks, businesses in the agricultural industry could be affected by carbon emission regulations on a national and international level. Such regulations can greatly impact production and operating costs, and in some cases lead to a <a href=\"https:\/\/www.unepfi.org\/wordpress\/wp-content\/uploads\/2023\/03\/Agriculture-Sector-Risks-Briefing.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">decline in revenue<\/a> for farmers.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-left-radius:8px;border-top-right-radius:8px;border-bottom-left-radius:8px;border-bottom-right-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full \" style=\"background:linear-gradient(0deg,rgb(6,52,55) 74%,rgb(255,124,51) 74%);\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:20%\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/lorry-icon-orange-bg.svg\" alt=\"Lorry Icon Orange Bg\" class=\"wp-image-141767\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-large-font-size wp-elements-7d87744f3a329c231986f38af59760b5\"><strong>Climate risk in transportation<\/strong><\/h3>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns has-clay-background-color has-background is-layout-flex wp-container-core-columns-is-layout-2873d9f5 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/outlook-severe-icon-orange.svg\" alt=\"Outlook Severe Icon Orange\" class=\"wp-image-141765\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-teal-color has-text-color has-link-color wp-elements-321fc2d4603ad9d25bac054669ef37aa is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">The <a href=\"https:\/\/www.unepfi.org\/wordpress\/wp-content\/uploads\/2024\/05\/Climate-Risks-in-the-Transportation-Sector-1.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">UN identifies<\/a> some key physical risks in the transportation industry, including increasing severity of flooding and storms. This can cause ongoing operational disruptions and severe damage to existing infrastructure.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Rising heat levels and heatwaves can affect businesses in the transportation industry whose mechanical elements are not designed to work in these temperatures. For example, increased wear on tires due to heat stress.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns has-border-color is-layout-flex wp-container-core-columns-is-layout-2873d9f5 wp-block-columns-is-layout-flex\" style=\"border-color:#FF7C33;border-width:2px;border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/transitional-risk-icon-orange.svg\" alt=\"Transitional Risk Icon Orange\" class=\"wp-image-141768\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-color has-text-color has-link-color wp-elements-685a5789c03c0d063a1efa06165a79e5 is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Transitional risks in this industry could include increasing carbon prices, which may lead to an increase in emissions costs. New advancements in EVs and low carbon fuels represent growing competition in the sector.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Reputational risk should be considered as well. For example, freight companies, airlines and other businesses whose activities are linked to high CO2 emissions may face increased social, investor and regulatory pressure to decarbonise.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-left-radius:8px;border-top-right-radius:8px;border-bottom-left-radius:8px;border-bottom-right-radius:8px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:20%\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/factory-icon-blue-bg.svg\" alt=\"Factory Icon Blue Bg\" class=\"wp-image-141772\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-teal-color has-text-color has-link-color has-large-font-size wp-elements-4cf7ece6dbda0fd6505e12601c9c2857\"><strong>Climate risk in the industrial sector<\/strong><\/h3>\n\n\n\n<p class=\"has-teal-color has-text-color has-link-color has-large-font-size wp-elements-3ab2397c4fb76fcd80ad234045c0ea11\">This sector includes manufacturing, petrochemicals, steel and iron, and construction inputs, among many others.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20); border-top-right-radius:16px;border-bottom-left-radius:16px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-teal-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-55efa2f3 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/outlook-severe-icon-blue.svg\" alt=\"Outlook Severe Icon Blue\" class=\"wp-image-141773\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-color has-text-color has-link-color wp-elements-640b806bb6a789e90b37171cd2371639 is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Physical risks in this sector include increasing risks to production facilities such as factories and disruption to supply chains as a result of intense storms and flooding.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-55efa2f3 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<div class=\"wp-block-column is-vertically-aligned-center has-border-color has-sky-border-color is-layout-flow wp-container-core-column-is-layout-14a0a060 wp-block-column-is-layout-flow\" style=\"border-width:2px;border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--10);padding-right:var(--wp--preset--spacing--10);padding-bottom:var(--wp--preset--spacing--10);padding-left:var(--wp--preset--spacing--10);flex-basis:50%\">\n<p class=\"has-sky-color has-text-color has-link-color wp-elements-189d80fe1a6511b76aacbcd6560351d5\"><strong><a href=\"https:\/\/www.unepfi.org\/wordpress\/wp-content\/uploads\/2023\/04\/Climate-Risks-in-the-Industrials-Sector.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">According to the UN<\/a><strong>,<\/strong><\/strong><\/p>\n\n\n\n<p class=\"has-sky-color has-text-color has-link-color has-xx-large-font-size wp-elements-f844089419edba52615b007ec7487605\"><strong>44%<\/strong><\/p>\n\n\n\n<p class=\"has-sky-color has-text-color has-link-color wp-elements-54f2eb0306a04ad1449be492805c64ab\"><strong>of the water used by humans is in this sector.<\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-clay-color has-text-color has-link-color wp-elements-b1bce8b3bcfcc5c9776aa2cfbe267aca is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Water-intensive manufacturing operations such as textiles, food and beverage, pharmaceuticals and electronics are at risk due the increasing frequency of droughts.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns has-sky-background-color has-background is-layout-flex wp-container-core-columns-is-layout-2873d9f5 wp-block-columns-is-layout-flex\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;flex-basis:20%\">\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/transitional-risk-icon-teal.svg\" alt=\"Transitional Risk Icon Teal\" class=\"wp-image-141774\" style=\"object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column has-teal-color has-text-color has-link-color wp-elements-ee70b080c9c7b57345b4ba17db5de467 is-layout-flow wp-container-core-column-is-layout-025608fa wp-block-column-is-layout-flow\" style=\"border-top-right-radius:16px;border-bottom-left-radius:16px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<p class=\"has-large-font-size\">Transition risks: Increasing carbon price will hit members of this sector as many are high carbon emitters.<\/p>\n\n\n\n<p class=\"has-large-font-size\">There is also the risk of the impacts of increased regulatory requirements, especially concerning the environment. The reputation risk of being associated with industrial pollution is also a factor.<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-right:0;padding-left:0; \" >\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>Other general business impacts<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li class=\"has-large-font-size\">Financial \u2013 have you considered asset impairment or increased insurance costs as a result of physical\/ transition climate risk? Have you considered how it impacts investment opportunities or direct customers?<\/li>\n\n\n\n<li class=\"has-large-font-size\">Supply Chain \u2013 how are your suppliers acting on physical\/ transition risk? Have they accounted for extreme weather and resource scarcity?<\/li>\n\n\n\n<li>Governance \u2013 is your business required to comply with some form of mandatory reporting such as <a href=\"https:\/\/insights.ecoonline.com\/uki\/reports\/eu-csrd-readiness-report\/\">CSRD<\/a>? Are investors\u2019 expectations moving towards sustainability?<\/li>\n\n\n\n<li>Growth and strategy \u2013 Have you accounted for the impact of new and emerging low-carbon technologies on the market?<\/li>\n<\/ul>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:0;padding-right:0; \" id=\"understanding-mobile\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>Understanding your climate risk exposure<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">With an increased awareness of the kinds of climate risks that can affect businesses, we\u2019ll turn to how you can start to manage these risks. Information and data gathering is the crucial first step in your journey.<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>1.<\/strong> <strong>Identify your climate risks and vulnerabilities<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">What are the physical risks that your business faces? Refer back to Chapter 3 for some industry examples. Be sure to differentiate between acute hazards (e.g floods) and chronic hazards (e.g. changes in precipitation patterns).<\/p>\n\n\n\n<p class=\"has-large-font-size\">For transitional risks, consider the effects of stricter regulation and increased reporting requirements. What financial impacts are there from transitioning to lower carbon emitting processes? What are the reputational risks from failing to do so?<\/p>\n\n\n\n<p class=\"has-large-font-size\">According to <a href=\"https:\/\/climate-adapt.eea.europa.eu\/en\/mission\/knowledge-and-data\/regional-adaptation-support-tool\/step-2-assessing-climate-change-risks-and-vulnerabilities\/step-2-2\" target=\"_blank\" rel=\"noreferrer noopener\">EU Climate-ADAPT<\/a>, at this stage, organisations should be collecting data on climate risks in their region. This information (past weather patterns, data on exposure and vulnerability) should come from a variety of reputable sources. These can include:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li>Internal experts within an organisation<\/li>\n\n\n\n<li>National meteorological services e.g. Bureau of Meteorology (Australia), Met Eireann (Ireland), M\u00e9t\u00e9o-France (France), The Met Office (U.K), National Weather Service (USA), Meteorological Service of Canada.<\/li>\n\n\n\n<li>National\/ International climate adaption sources, e.g. National Adaptation Plan (Australia), EU Mission on Adaptation to Climate Change Portal, EUCRA, The Pan-Canadian Framework on Clean Growth and Climate Change, US National Adaptation and Resilience Planning Strategy.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-large-font-size\">For transition risks, businesses can leverage the <a href=\"https:\/\/www.ngfs.net\/en\" type=\"link\" id=\"https:\/\/www.ngfs.net\/en\">Network for Greening the Financial System<\/a> (NGFS) scenarios to understand how shifts in market dynamics, legal and policy frameworks, technological advancements, and reputational considerations could impact their business models and financial performance.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit  text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--50);padding-right:0;padding-left:0; \" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-white-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"box-shadow:var(--wp--preset--shadow--deep)\"><section x-data=\"PegasusMediaBlock\"\n         x-intersect.threshold.25=\"onIntersect\"\n         class=\"Media relative mask- w-full align has-aspect-ratio\" \n         style=\"min-height: ; ;aspect-ratio:auto;min-height:unset;\">\n                            \n    <div class=\"w-full h-0 relative\" style=\"padding-bottom: 56.25%\">\n        <iframe loading=\"lazy\" title=\"Top 5 ESG Software Features for Automated GHG Reporting and Climate Risk\" src=\"https:\/\/www.youtube.com\/embed\/a32whIGmMQ4?feature=oembed&#038;rel=0&#038;autoplay=&#038;mute=&#038;muted=&#038;loop=&#038;controls=1\" width=\"640\" height=\"360\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" class=\"video-embed w-full h-full absolute-center\" controls=\"1\"  frameborder=\"0\"><\/iframe>\n    <\/div>\n\n\n        \n            <\/section>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>2. Perform a climate change risk assessment<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">A climate change risk assessment is usually undertaken at an enterprise level. It is used to analyse identified risks in terms of exposure, potential impact and risk mitigation.<\/p>\n\n\n\n<p class=\"has-large-font-size\">According to <a href=\"https:\/\/climate-adapt.eea.europa.eu\/en\/mission\/knowledge-and-data\/regional-adaptation-support-tool\/step-2-assessing-climate-change-risks-and-vulnerabilities\/step-2-1\" target=\"_blank\" rel=\"noreferrer noopener\">EU Climate-ADAPT<\/a>, a comprehensive climate change risk assessment should:<\/p>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">1.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Define<\/strong> the assessment\u2019s \u201cscope, objectives, timeframe, climate change scenarios and geographical coverage\u201d<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">2.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Identify <\/strong>past and current risks<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">3.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Anticipate <\/strong>future risks and opportunities<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">4.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Evaluate <\/strong>and review your findings<\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"has-large-font-size\">Predictive models (<a href=\"https:\/\/www.ecoonline.com\/esg-software\/carbon-accounting\/\">climate scenarios<\/a>) should be used at this stage to project the impact of different scenarios on the business. For example, how would different warming scenarios (e.g., 1.5\u00b0C, 2\u00b0C, 4\u00b0C) affect your business operations, supply chain and markets as a whole?<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>3. Gathering your data<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">Usually, a business would begin by measuring its <a href=\"https:\/\/online.hbs.edu\/blog\/post\/climate-change-mitigation-strategies\" target=\"_blank\" rel=\"noreferrer noopener\">baseline carbon footprint<\/a>. This is done by:<\/p>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">I.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\">Identifying emissions sources (GHG Protocol: Scope 1,2 and 3 emissions)<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-b66184d9 wp-block-columns-is-layout-flex\" style=\"padding-bottom:var(--wp--preset--spacing--10)\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:5%\">\n<p class=\"has-large-font-size\">II.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\">Collecting emission source data related to company activity over a set assessment period and using emission factors to convert the sources into emission totals.<\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"has-large-font-size\">The activities of each identified emissions source are multiplied by a relevant emission factor. For example, an emission factor for electricity (in kg CO2e\/kWh) would be multiplied by the total electricity consumption of an office within the organisation (in kWh).<\/p>\n\n\n\n<p class=\"has-large-font-size\">The business&#8217;s carbon footprint is then determined by totaling the emissions produced by each individual emissions source, usually aggregated by scope.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column has-canope-background-color has-background is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:2px\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>How do I begin the data gathering process?<\/strong><\/p>\n\n\n\n<div style=\"height:2vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-black-color has-clay-background-color has-text-color has-background has-link-color has-border-color has-canope-border-color wp-element-button\" href=\"https:\/\/www.ecoonline.com\/en-au\/esg-software\/esg-reporting\/climate-risk-software\/\" style=\"border-width:2px\"><strong>Read more<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-large-font-size\">After you have your carbon footprint, it is time to explore strategies that will enable a shift to low emissions alternatives. This can include transitioning to renewable energy sources. Be sure to set emission reduction targets at this point. You also need to record the activities that you are undertaking to achieve your reduction targets.<\/p>\n\n\n\n<p class=\"has-large-font-size\">The <a href=\"https:\/\/unfccc.int\/topics\/adaptation-and-resilience\/the-big-picture\/introduction\" target=\"_blank\" rel=\"noreferrer noopener\">UNFCCC<\/a> defines climate adaption as <em>\u2018adjustments in ecological, social or economic systems in response to actual or expected climatic stimuli and their effects\u2019<\/em>.<\/p>\n\n\n\n<p class=\"has-large-font-size\">While mitigation usually takes place over a long period of time, climate adaptation plans focus on rapid action. This might involve investing in flood defence systems, early warning systems for extreme heat, or the climate proofing of buildings.<\/p>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>4.<\/strong> <strong>Disclosure and reporting<\/strong><\/h3>\n\n\n\n<p class=\"has-large-font-size\">Whether you are engaging with mandatory or voluntary climate reporting requirements, here are some of the most prominent sustainability frameworks and standards:<\/p>\n\n\n\n<ul class=\"wp-block-list has-large-font-size\">\n<li>Task Force on Climate-Related Financial Disclosures (TCFD)<\/li>\n\n\n\n<li>International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards<\/li>\n\n\n\n<li>Corporate Sustainability Reporting Directive (CSRD)<\/li>\n\n\n\n<li>European Sustainability Reporting Standards (ESRSs)<\/li>\n\n\n\n<li>Carbon Disclosure Project (CDP)<\/li>\n\n\n\n<li>California SB261<\/li>\n\n\n\n<li>UK Sustainability Reporting Standards (UK SRS)<\/li>\n\n\n\n<li>Australian Sustainability Reporting Standards (ASRS) and AASB S2<\/li>\n<\/ul>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30); border-top-right-radius:60px;border-bottom-left-radius:60px;\" >\n\t        \n\t\t\t\t\t\t\t\t<div class=\"row-background absolute w-full bottom-0 left-0 z-0 h-full has-clay-background-color\" style=\"\">\n<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-ea69a204 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column has-canope-background-color has-background is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:2px\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-large-font-size\"><strong>Want a more in-depth understanding of these frameworks and standards?<\/strong><\/p>\n\n\n\n<p class=\"has-teal-color has-text-color has-link-color has-large-font-size wp-elements-5f89c94b8779164c91132dc1c77e373d\">Check out our detailed blog on the subject.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-black-color has-clay-background-color has-text-color has-background has-link-color has-border-color has-canope-border-color wp-element-button\" href=\"https:\/\/www.ecoonline.com\/blog\/esg-reporting-frameworks-and-standards-understanding-the-difference\/\" style=\"border-width:2px\"><strong>Read more<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n\n\n<section class=\"Pegasus__Container w-full   relative h-fit overflow-hidden text-content-dark mobile-stacking-standard is-layout-flow wp-block-pegasus-container-is-layout-flow\" style=\"  padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:0;padding-right:0; \" id=\"utilising-mobile\">\n\t        \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t        \t\t\n\t\t\n\t\n\t\t\t<div class=\"relative h-full is-flex-layout flex flex-col justify-start  w-full\">\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>Utilising technology to report on climate risk<\/strong><\/h2>\n\n\n\n<p class=\"has-large-font-size\">As we have seen from this guide, there are a lot of factors to consider when trying to establish the climate risk faced by your business.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Activities such as researching past weather patterns and manual data entry can lead to significant time being spent on admin. They are all the more difficult if you are not familiar with managing this kind of data.<\/p>\n\n\n\n<p class=\"has-large-font-size\">EcoOnline\u2019s climate risk software uses accurate, science-backed data to assess the physical risks that your organisation faces.<\/p>\n\n\n\n<p class=\"has-large-font-size\">Gain an in-depth understanding of your climate exposure risk under low, middle-of the road AND high emission scenarios.<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<section x-data=\"PegasusMediaBlock\"\n         x-intersect.threshold.25=\"onIntersect\"\n         class=\"Media relative mask-  align  \" \n         style=\"min-height: ; \">\n                                    <picture ><source srcset=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary.webp 1275w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-232x300.webp 232w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-791x1024.webp 791w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-768x994.webp 768w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-1187x1536.webp 1187w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-835x1080.webp 835w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-278x360.webp 278w, https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary-495x640.webp 495w\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/www.ecoonline.com\/wp-content\/uploads\/2026\/03\/DummieCorp-headquarters-CR-exposure-summary.webp\" width=\"1275\" height=\"1650\" class=\"image-original \" alt=\"DummieCorp Headquarters CR Exposure Summary\" loading=\"lazy\" sizes=\"(min-width: 767px) 1275px, (min-width: 375px) 1187px\"  \/><\/picture>\n\n        \n            <\/section>\n\n\n\n<div style=\"height:5vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>(Note that the above summary is for illustrative purposes only, and does not reflect real-world entities)<\/p>\n\n\n\n<p class=\"has-large-font-size\">Want to understand your exposure to physical climate risk?<\/p>\n\n\n\n<div style=\"height:3vh\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-black-color has-white-background-color has-text-color has-background has-link-color has-border-color has-canope-border-color wp-element-button\" href=\"https:\/\/www.ecoonline.com\/en-au\/esg-software\/esg-reporting\/climate-risk-software\/\" style=\"border-width:2px\"><strong>See our climate risk software in action<\/strong><\/a><\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n<\/div>\n<\/div>\n\n<\/div>\n\t\t\n\t        <\/section>\n\n<\/div>\n\t\t\n\t        <\/section>\n","protected":false},"excerpt":{"rendered":"<p>This guide will show everything you need to know about climate risk; what it is, its impact and how to assess it for your organisation.<\/p>\n","protected":false},"featured_media":111522,"template":"","meta":{"_acf_changed":false,"content-type":"","_links_to":"","_links_to_target":""},"category":[278],"class_list":["post-141868","whitepaper","type-whitepaper","status-publish","has-post-thumbnail","hentry","category-sustainability-en-au"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EcoOnline An executives guide to climate risk management | EcoOnline AU<\/title>\n<meta name=\"description\" content=\"In this guide readers will learn about climate risk; how it affects their organisation and how they can assess it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecoonline.com\/en-au\/guides\/executives-guide-to-climate-risk-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EcoOnline An executives guide to climate risk management | EcoOnline AU\" \/>\n<meta property=\"og:description\" content=\"In this guide readers will learn about climate risk; 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