risk reduction is an important component of running any business. As our governments and society become more aware of the issues around environmental stewardship the risks associated with non compliance multiply exponentially. Areas where GCX has identified significant risks that need to be managed by all companies include:
- Emerging Legislation– legislation around sustainability continues to evolve but one thing is for certain this area is becoming much more regulated and no longer can a company risk not understanding or following new sustainability legislation. The risks to profitability are simply too great.
- Manage Carbon Liability –An effective carbon footprint report is an excellent measure of how companies are performing in terms of their environmental sustainability. By effectively managing your carbon footprint you’ll achieve a reduction in absolute costs but also importantly you will be ready when carbon taxation/trading reqimes are legislated and introduced. Carbon legislation is imminent and your financial team should be aware of the potential implication on your company.
- Secure Place in Supply Chain – Being part of a supply chain you should leverage the lessons learnt from Wal-Mart, Hewlett Packard and British Telecom and how they have forced their supply chains to measure and reduce their carbon emissions and report on environmental sustainability. Non-compliant suppliers have quickly found themselves losing large chunks of business. Many large companies view their supply chains as key ways they can improve their own environmental sustainability as well as overall efficiency,
- Rating Agencies, Investors and CDP – as environmental sustainability gets woven into the fabric of our society this is not going unnoticed by rating agencies, stock exchanges and large investor funds. Many are now creating new ways to measure and rank companies based on their environmental sustainability performance. The Carbon Disclosure Project (CDP) which aims to showcase to investors the voluntary emissions information of the largest 2500 companies globally is becoming the bell weather for investors. Let GCX assist your company by planning and implementing a sustainability strategy that quickly gets you ranked high on these important indicators.
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