The first day of the World Economic Forum in Davos was dominated by calls for 2015 to be a year of action on climate change. But while some in the business community worry about sustainability, there is plenty of evidence that the vast bulk of business executives give it no consideration at all.
“We are seeing the accelerated impact of climate change,” World Bank boss Jim Yong Kim said in a speech on Wednesday. “Last year was the hottest on record. That matters. Extreme weather is real. It’s a complete no-brainer to move towards cleaner, more livable cities.”
Former US vice-president Al Gore teamed up with pop star Pharrell Williams to launch a second round of Live Earth concerts to raise awareness before crucial UN talks in November.
He accused fossil fuel companies in particular of using the atmosphere as “an open sewer” for carbon emissions, which are in danger of driving global warming to ruinous levels.
Yet according to PwC’s 18th annual survey of global chief executives, climate change is not among the top 19 risks that keep them awake at night.
“Overregulation” is their top worry – government policies that interfere in business and undermine growth prospects. Skills, tax systems and cybersecurity are also among their concerns, but the future of the planet is not something that most chief executives lose sleep over.
The odd organisation, such as insurance market Lloyd’s of London, which is seeing a huge increase in weather-related claims, understands the risks of doing nothing about climate change. But a far wider pool of executives still seem to think no further than their next quarterly financial results.
Gore has a seven-point programme that involves fighting for a moratorium on new coal-burning power plants, cutting dependence on oil, and people and corporations making themselves “carbon neutral”. Will business respond with a sense of urgency? No.