In recent years, climate change has emerged as one of the main global risks highlighted by the World Economic Forum's Global Risks Report: a lack of targeted and global action in the face of climate change has become one of the main threats to the world, even overcoming the risks up to currently other threats perceived as more looming, such as those linked to the economy.
However, it is estimated that failure to take action against the climate can potentially cost much more than the cost of implementing such actions: companies can therefore constitute an important driver of change for the mitigation of climate change and the transition to an economy zero emissions.
The benefits for companies go far beyond the reduction of emissions: companies that are able to assess and understand the risks and opportunities related to the climate will be more inclined to make forward-looking decisions in the long term, knowing better to seize future business opportunities.
Proper assessment and management of climate risks can concretely help a company understand what the financial markets require, starting with reporting, in order to measure and react to the risks of climate change and align reporting to the needs of investors.
The Carbonsink approach in terms of risk and opportunity management is aligned with the recommendations of the Task Force on Climate-related Financial Disclosures. The establishment of the TCFD, in fact, as well as the introduction of new regulations that require companies to be more committed and transparent in the management of risks and opportunities related to climate change in the short and long term, have actually increased / intensified the attention from the private sector towards these issues.