GEO-5 Report Highlights Impacts of a Changing Environment on Business
21 June 2013: The UN Environment Programme (UNEP), together with SustainAbility and the Green Light Group, has released a report titled 'GEO-5 for Business: Impacts of a Changing Environment on the Corporate Sector.' Based on UNEP's Global Environmental Outlook (GEO-5), the report offers an analysis of specific risks faced by the construction, chemicals, mining, food and other industries, and suggests ways in which businesses can adjust to create long-term competitive advantages.
According to the report, businesses need to develop goods and services that can reduce the impacts of climate change, water scarcity, emissions of harmful chemicals, and other environmental concerns. Achim Steiner, UNEP's Executive Director, said the report represents a “prospectus for the 21st century company-one that internalizes how rapid and accelerating environmental change will shape risks.”
The report stresses that the rising frequency of extreme weather events, often linked to climate change, puts all sectors at risk. It underlines that up to 80% of the capital required to address climate change may come from the private sector through green investment opportunities such as green buildings, energy-efficiency technology, sustainable transport and other low-carbon products. [GEF Press Release] [UNEP Press Release] [Publication: GEO-5 for Business: Impacts of a Changing Environment on the Corporate Sector]