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Climate change and business risk: Developing a strategic approach

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  • Is your company prepared for the climate transition already underway?
  • Can you respond effectively to changing expectations from investors, regulators and customers?
  • How do you support your board in discharging their fiduciary duties related to climate risk?

Investors, regulators and customers increasingly acknowledge climate change as one of the defining challenges of our generation. They now expect companies to demonstrate a competent response to this challenge. Already affecting organisational operations, reshaping markets and the structure of the economy, our changing climate is no longer just a corporate responsibility issue: It is a financial and strategic issue. Yet most businesses have not yet integrated climate into their core strategies.

LEARN HOW TO APPLY THE TCFD FRAMEWORK TO BECOME CLIMATE RESILIENT

In Climate Change and Business Risk, we show you how to move past short-term pressures, policy uncertainty, and the difficulty of organisational and systems change, to develop a strategic approach for successfully integrating climate into strategy.

Through this course you will learn:

  • The significance of climate change to your organisation
  • Physical, transition and liability risks (including fiduciary responsibilities) of climate change
  • Changing expectations from investors, customers and regulators
  • Pathways for, and business opportunities in, transitioning to net zero emissions
  • Using a scenarios approach to support strategic decision-making under uncertainty

WHY IS THIS IMPORTANT?

Responding to growing demands from regulators and investors for greater corporate action and disclosure on climate change, the Financial Stability Board (FSB) set up the Task Force on Climate-Related Financial Disclosure (TCFD). The TCFD has developed a framework for voluntary, consistent, climate-related financial disclosures for use by companies to provide information to investors and financiers. Their recommendations relate to governance, strategy, risk management, metrics and targets. Effective climate disclosure can only happen, however, with a comprehensive, integrated strategy in place.

TCFD recommendations align with the 2016 legal opinion on Directors’ duties provided by Barrister Noel Hutley SC, which emphasised the need for boards to consider climate impacts actively and disclose them properly. The Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC) have endorsed this view.

YOUR LEARNING EXPERIENCE

This course consists of two full-day interactive sessions with participants from diverse organisations. We can also customise it for a specific organisation or sector. We draw on leading research and experience in Australia and abroad and you will hear from experts from across academia and industry.

WHO SHOULD ATTEND

Climate Change and Business Risk is ideal for senior managers and executives in finance, risk, operations, strategy, sustainability and corporate affairs. Designed with a commercial focus, it will help you develop, implement and interrogate your approaches for incorporating climate change into strategy.

OUR EXPERTS

Monash Sustainable Development Institute (MSDI) is a leading interdisciplinary research and education institute. Through units including ClimateWorks Australia, BehaviourWorks Australia and Monash Water Sensitive Cities we continue to make significant impacts on policy, practice and behaviour across our region and the world.

In 2014, ClimateWorks released an analysis as part of the international Deep Decarbonisation Pathways Project. Their work also contributed to the 2015 Paris Agreement and has led several Australian state governments to adopt targets of net zero emissions by 2050. They are also helping some of Australia’s biggest companies with their climate strategies and scenario analysis.

MSDI harnesses the strength of Australia’s largest university – Monash – in interdisciplinary partnerships with government, industry, academia and civil society. We offer academic and professional courses that enable people and organisations to engage and respond to some of the biggest environmental, economic and social issues facing our world today.

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