Climate action: Who’s going to pay for that?
Climate change action is an absolute imperative — but there’s no denying it can be costly. So who foots the bill for these mission-critical changes to safeguard our future? Our experts take an in-depth, future ready look at the complex questions of financing climate resilience.
Climate change does not have boundaries or jurisdictions like our human world does; it’s spatially agnostic in many cases.
However, we are slowly seeing an uplift in the contribution and engagement from the private sector, who have been traditionally slow to react. We’re getting this increased uptake and engagement from the private sector because our hand is being forced.
The companies earnestly exploring climate change risks and meaningful responses are the first movers. Probably one-fifth of these companies are simply checking off a perceived requirement, but the other four-fifths are embracing the challenge to deliver quality products and differentiate themselves in the market. Eventually, the TCFD disclosures will likely become so front-and-centre in the private sector that if a company doesn’t abide, it will get left behind.
Fortunately, engineers have been building all kinds of stuff for long time and they love a challenge.