COP26 will lead to changes
COP26 exists in order to bring about changes. Some will be long-term, some medium, others short-term, but almost everyone is saying that at least some changes need to begin immediately. Nobody seems keener on instant change than the recent convert to climate change, our own PM Boris Johnson and I have written about my slow journey in this respect in a previous post. Of course some changes to make the world, or at least the UK, greener, are already in place, and the government has already promised certain others. I expect more will come.
How will COP26 affect your business?
That depends, obviously, on what business you are in, but here are some of the things we (nearly) all need to think about.
- Energy. How much do you use and what savings could you make by doing things differently or even by doing different things?
- Travel. How essential is it? Could you do less or make more use of trains? Could you do more business online?
- Recycling. Could you do more? Not just using the blue bin. What about finding a use for waste products?
- Supply chain. Could you source more locally? How green are your suppliers?
How much will COP26 cost you?
Of course, some of these changes will lead to higher costs. Can you pass them on? Perhaps if you act now it will cost less in future and you could be ahead of the competition, but sometimes the greener answer is not more expensive. Look closely.
What are the benefits of COP26?
- There may be grants or tax benefits for going greener.
- You may gain customers by having a greener image.
- There may be opportunities if you can produce green products.
- Your competitors may be worse off than you!
What about the risks from COP26?
Any change means a change in the risk.
- Changes may increase or decrease existing risks.
- They may create new risks.
- Changes may make existing risk controls less or more effective.
- They may enable you to bring in new control measures.
For a fuller, but still brief look at risk management have a look at my book Load The Dice, especially a chapter on the risks of growth.
Of course, we all need to think about the risks of doing too little about climate change, but you don’t need me to tell you about those. Not this week!