YNTR: Climate Change – and Ideas for Tackling it – Dominated Davos

You Need to Read Climate Change – and Ideas for Tackling it – Dominated Davos by Stephen Fidler and Elena Cherney.

Unsurprisingly, given that climate dominated all 5 top Global Economic Risks identified by WEF research going into Davos, Climate was central to the event, although a large gap remains between the size of the challenge and motivation to act:

DAVOS, Switzerland—The annual meeting of the World Economic Forum in Davos showed climate change has become a top issue for many businesses and governments, but also demonstrated a yawning gap between how they view the scale of the challenge and what can be achieved without significant new policies.

It was a year in which the issue, which many people here believe has contributed to extreme weather-related events such as the Australian bush fires, appeared to shift from a fashionable talking point to a matter that is beginning to have real-world consequences for many banks and businesses.

Executives cite potential investor (ESG standards) and consumer preference potential impacts on their bottom line as cause for concern:

“For many corporate executives, concern about the climate is derived from the increasing prospect that the issue will affect their bottom lines—because of changing consumer behavior—and their share price, because more major investors are building in environmental, social and governance goals into their decisions.”

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