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Climate Change management strategies: issues and considerations (Supply…
Climate Change management strategies: issues and considerations
risk management
monitor and continually assess risks
risk assessment
consider different scenarios
measure the impacts of different future possible scenarios
prepare for likely scenarios
hazards
consequences
likelihood
strategies to manage risks
understand risks and opportunities
reporting
Risk register
business continuity plans
Supply Chain Opportunities
build good relationships with suppliers
work with suppliers to develop sustainable/ethical goods/services
influence suppliers' workers' conditions
improve local environment
become an in- demand supplier
be clear on manufacturing and other requirements of suppliers
Transparency and due diligence
build reputation as ethical organisation
improve efficiency of supply chain and reduce costs
innovation
new efficient operations processes
sustainable materials
sustainable packaging
cost savings
Industrial ecology- reuse
introductions
Supply Chain Risks
Suppliers' actions impacting the reputation of the company
community and NGO protests over source or manufacturing of products
Boycott goods/services
inefficient supply chain adding costs causing delays
Mitigation opportunities
improve operational efficiency
reduce operating costs
attract top employees
build morale
less environmental and social damage
innovation
define industry goals
meet consumer demands
competetive advantage
Mitigation risks
being left behind
unnecessarily high operational costs
scarcity and rising costs of resources
rising costs
difficulty sourcing
large costs to catch up
inefficient processes
competition with more efficient and sustainable companies
reputational damage
boycott goods/ services
Governance
Governance
leadership
setting the industry standards
being ahead of the game
being involved in setting regulations and policy
sustainability
employees' needs
disclosure requirements
shareholders/ investors
transparency in reporting and consideration of material impacts
ethical investors wanting to invest in values comapnies
litigation
Breach of Directors' Fiduciary Duties
reputational damage
penalties
litigation
directors acquiring knowledge
prosecution for misleading and deceptive conduct
ASX recommended disclosures
litigation for negligence
delayed/challenged planning approvals
business case for company to take action