Climate does impact bottom line say majority of business leaders. But are they deluded about their efforts in doing something about it?

Carbon Trust has been carrying out interviews with people from business, government and academia from around the world. In fact, it spoke to 229 executives from large businesses.

According to the Carbon Trust, f our out of five companies claim that a changing climate and resource scarcity are likely to impact their bottom line. And yet, they are not doing enough to change their company’s behaviour.

The organisation has been carrying out interviews with people from business, government and academia from around the world. In fact, it spoke to 229 executives from large businesses.

And as many as 84% of them said there was a business opportunity in becoming more sustainable, while 76% said there were ‘bottom line risks’ from the direct impacts of climate change.

The report reveals:

· 70% of global business leaders confident that action taken by consumers, governments, and investors will force the change to an environmentally sustainable future.

· 76% see bottom line risks from direct impacts of climate change, and 84 percent see business opportunity in an environmentally sustainable future.

· Half believe they would have to fundamentally change products, services, or business models if drivers for environmental sustainability become strong.

· Of those that claim to be aware of how they compare with competitors on environmental sustainability, 99% believe they are at least average for their sector, with half seeing themselves as leaders.

“Many businesses simply do not accept that they need to change,” said the Carbon Trust report. “99% considered themselves to be at least average, and half saw themselves as environmental leaders in their sector.”

It added that businesses are”living in two realities”. “They recognise and accept the risks and opportunities of an environmentally sustainable future, but continue to focus on the short-term,” it said.

“Despite the perception that drivers for change will continue to become stronger in the near future, most businesses appear to have no clear vision on how to manage the transition effectively.”

You can read the full report here.