Addressing the issue of climate change not as a philanthropist, but as a strategist

Marshall McLuhan – the noted Canadian philosopher once said, “There are no passengers on spaceship Earth. We are all crew”. In this phrase, he has remarkably captured the fact that there is no planet B. He has underscored the dire urgency of protecting our planet & adopting sustainable measures on a war footing. If there’s a legacy worthy of being  passed down to the future generations, then it is to make Mother Earth a safe haven for everyone, ensuring equitable and inclusive growth opportunities and resources.

Today, the top-of-mind topic for political, economic, and business leaders is climate emergency. Droughts, heatwaves, rising ocean levels, environmental degradation, and increasingly severe and frequent weather phenomena have combined to put the world’s spotlight on climate change. Addressing a crisis of such magnitude requires a serious strategy rather than ad-hoc implementation of Corporate Social Responsibility (CSR) plans. Hence, it is imperative for organisations to think through action plans as a strategist, not just as a philanthropist, and to reduce environmental risks and scale business simultaneously.

It’s now or never 

After generations of sidelining climate concerns, the sheer magnitude of our disregard for nature has taken its toll. The final product of our negligence is rearing its ugly head in our lives. We are at the tipping point for climate action, wherein we need to swiftly assess where we are headed, what can be done, and how we can prepare to dissipate any unprecedented global survival emergencies. It is imperative to make it our collective goal to save our environment by taking necessary steps like leveraging technology to combat climate change, scaling up the use of renewable energy, and achieving net-zero emissions before it’s too late. The Climate Change Conference (COP26) meet in Glasgow, echoed this sentiment fervently. It was heartening to note that every nation was ready to take steps to control global warming and protect the environment. Clearly, there is a lot to execute and we do not have even a single moment to lose. 

Risk and scenario planning to offset the climate imbalance

Leaders need to properly analyse and evaluate the financial impact of a changing climate on the businesses today so as to defend our very survival. Corporate governance policies need to be restructured to incorporate an evolving focus on the triple bottom line including economic, environmental, and societal aspects, thus attempting to solve the prevailing environmental challenges. Organisations need to carefully curate governance policies and regulations that are in sync with its short-term and long-term environmental strategies and operations. Additionally, a well-defined Enterprise Risk Management (ERM) process could help evaluate risks and opportunities at an early stage across geographies and business verticals on the basis of parameters like climate conditions and overall business viability.

Tech-way is the only way

There has been monumental technological advancements that have aided in the fight against climate change recently. Automotive innovations have allowed electric vehicles to become commonplace on our roads and today, every major car manufacturer has a lineup of electric vehicles for consumers to choose from. Other solutions are tied to 6G technology and the powerful exchange of data enabling the Internet of Things (IoT), that is not only transforming the world but also contributing to creating sustainable forms of technology. 

Best practices that are backed by new-age technologies, will help in combating climate change in a simple yet effective manner.

Time to add more weight on actions

The world’s future depends on the sustainable practices we implement today. With a dedicated plan and implementation of robust eco-friendly strategies, we can accelerate the global transition from ‘take-make-waste’ model to circular economic models for a sustainable future. 

It is time for humans to behave or perish amidst climate emergency. Today, we need more than words to save Mother Earth and our future – We need bold climate action!