I came across this article with the headlines that said ; “Bank face 15% drag on profits due to climate change”.
I am not expert on climate change, but do we care so less about the world we live in that we have to look at potential financial losses to do our bit for climate change ?
Sceptics out there will probably say that climate change is not real, and they might be right, but there is enough evidence and research to prove otherwise.
A fair approach in such cases is to make decisions based on what you know “now” and adapt as you progress.
I believe that the least organizations can do, irrespective of the financial impact (it is important to consider though for survival of businesses) is to attempt to achieve #netzero emission of green house gases.
Climate change and drag on profitability of banks and other financial institutions probably is true or may be it is just a propaganda (according to a certain head of responsible investing who used to work at HSBS, :-).
Through out my short career, I have worked around banks, various other financial institutions and technology institutions and I have to admit, this does not seem to rank high on their priority.
I guess we learn the hard way, pandemics, wars and climate change all seem to point in this direction. Nothing wrong with it, just a high risk of “end of the world” scenario in certain cases (pun intended 🙂 .
I believe this is too important an issue to ignore, the future of the planet literally depend on this. As businesses we probably should do something about this.
PS: Consider adding your reactions and opinions in the comments section.