The nature and climate crisis, and its global impacts, are accelerating faster than scientists had earlier predicted. The global stocktake at the 28th United Nations Climate Change Conference, or COP 28, confirmed that the world is not on track to meet the Paris Agreement goals. In 2023, the world set a new temperature record and experienced unprecedented flooding in several regions. In the years ahead, the world will experience accelerated heating, more extreme weather, and destabilization of the jet stream and ocean currents.
At the World Economic Forum’s annual meeting in Davos this week there is an opportunity for the private sector to proactively reframe how we address the climate crisis, shift the collective consciousness from one of denial and passivity to that of responsibility and action, and seize the opportunity to invest in capabilities and partnerships that will bring resilience, stability, and sustained growth.
How well businesses adapt and evolve their operations, products, and services to meet the effects of climate change will be key determinants in how well they navigate the turbulence to ensure business continuity, secure operational capacity and sustain profits. Hearteningly, there are areas emerging where businesses can use their dynamism to respond and take action.
About the author
Gim Huay Neo
Gim Huay Neo is the managing director and head of the Centre for Nature and Climate at the World Economic Forum.
