COP29 is coming up and every year, we like to take the opportunity to take a step back and reflect on climate change both locally and globally. For too long, most of the Western world has seen climate change as a problem only impacting distant islands and peoples. Now, it is on our doorstep and shaping our lives and businesses in Scotland. A recent UN report predicts 3.1C (Is the UN warning of 3.1C global warming a surprise?) warming this century based on current government policies.
We are now faced with two competing challenges: adapting to the risks (more risks than opportunities) of climate change, and mitigating further impacts by reducing emissions from fossil fuels and land-use changes. In this blog, the Beyond Green team shares how climate change shapes our lives and the organisations we work with.
The New Norm – Extreme Weather
In recent years, Scotland has experienced a noticeable rise in extreme weather, particularly flooding events such as those brought by Storm Babet in 2023, and unpredictable temperature fluctuations. In Scotland, the annual average rainfall in the last decade (2014-2023) was 29% higher during the winter months than the 1961 to 1990 average (see Adaption Scotland), resulting in dangerous driving conditions, floods, and soil erosion leading to an increased risk of landslides. These changes not only impact the country’s infrastructure but also threaten human health, biodiversity and our delicate ecosystems.
In recent years we have experienced record breaking temperatures in the UK. In 2022 Scotland recorded a new highest temperature of 34.8C, similarly, London temperatures reached an unprecedented 40.2C, setting a new UK record. The increasing frequency and severity of these events highlights the urgent need for climate adaptation and mitigation, in line with the Sustainable Development Goals (SDGs).
Such extreme weather presents a substantial risk to human health and wellbeing, temperatures which are uncomfortable for healthy young adults can present far more serious risks to those most vulnerable; such as older adults, people with chronic illnesses and those who are living in poverty. Improvements to energy efficiency in domestic and commercial properties is one of the many areas we can improve to adapt to our changing climate to help reduce risk to individuals who may suffer disproportionately due to our changing climate.
As COP29 approaches, Scotland, like many regions worldwide, must prioritise both adaptation and mitigation to safeguard communities and ecosystems. To secure a sustainable future, we need to accelerate our efforts towards achieving the SDGs and improve our resilience against the growing impacts of climate change.
Business Risks and Financial Impacts
On a smaller scale, individual businesses also need to adapt and mitigate climate risks to survive. When the ground might literally shift beneath your feet, not being prepared can make or break otherwise successful businesses. It is now more important than ever to think of your business plans in the long-term, and take into account the changing landscape around you – evaluating the risks of flooding, heat waves, storms, or disruptions to your supply chains because of any of the above.
These risks are already translating into increasing business costs from insurance premiums, procurement costs, and asset valuations. According to a 2023 report by Gallagher, a global risk management and insurance broker, “the most common effect of climate change on British business are disruption from extreme weather events, including flooding, storms and heatwaves (52%), followed by climate change related increased operating costs (47%), supply chain issues (39%) and physical damage (35%).” These impacts are likely to increase over time, and it’s crucial for businesses to mitigate risks and adapt to the changing landscape to ensure they can thrive in the long-term.
One potential way to do so is to make use of a climate risk tool, like our client J Smart & Co (Contractors) PLC. Following on from our previous work with J Smart, we’re supporting them in identifying the best suited climate risk tool for them. This is what they had to say on the process:
“We have had the pleasure of working with Beyond Green for a couple of years now and as part of our continual strive to improve our data analysis and TCFD reporting parameters, we decided we needed a bespoke climate risk analysis platform. Beyond Green thoroughly researched the products available on the market, arranged calls and demonstrations and then provided a clear and concise report outlining the strengths and weaknesses of each package. We quickly settled on EarthScan and the BG team helped us with arranging onboarding of our assets and are continuing to support us with this and our ongoing sustainability journey.”
The drive to adapt and mitigate climate change is taking hold across the procurement sector, particularly in the construction industry with the PAS2080 standard for Carbon management of infrastructure projects. This standard requires collaboration and responsibility for carbon management across the value chain, with a significant impact on commercial contracts and performance requirements.
As climate change forces us to change the way we work as businesses, we need to find new ways to adapt and collaborate with each other.