Climate change is one of the defining issues of our time. Asia Pacific has the most to gain from climate action and the most to lose from inaction.1 The business case for action is clear – without significant and meaningful action from business and government, the devastating impacts from climate change will be felt worldwide.
The benefits of climate-led transformation for businesses are enormous. With a rapid response, we all stand to grow our economies by US$47 trillion by 2070 through increased growth and avoided damages.2
There’s no time to waste.
1, 2: Deloitte, Asia Pacific’s Turning Point, August 2021.
Explore the guiding principles to climate-led transformation:
· Climate-related physical and transition risks.
· Adaptation and mitigation action.
· Value creation opportunities.
Set ambitious and achievable climate aspiration:
· Assess the current state.
· Identify and prioritize material climate change issues.
· Define and commit to climate change targets.
Consider the factors to develop a climate strategy:
· Assess potential climate risks and impacts.
· Identify and implement opportunities for value creation.
Evaluate the current and future state:
· Assess your operating model.
· Consider operational changes required.
· Execute changes to achieve your aspiration.
Equip your organization with the optimal skills and resources:
· Review what capabilities can support the new future state.
· Pinpoint capability gaps to be acquired.
Enable and embed reporting:
· Map internal and external stakeholders.
· Identify the climate data needed to track progress.
· Meet disclosure requirements.