COVID-19 has pulled focus from climate change

Whilst managing crisis it is essential to keep sight of the risks on the horizon in order to build resilience. With this in mind, the COVID-19 pandemic has taught us all many lessons.

Regardless of how companies have navigated the crisis, they understand now more than ever the importance of resilience. The ability to bounce back after a major incident of any form is key to survival, and this takes foresight and planning - particularly at a time when we are seeing increasingly challenging insurance markets.

After several months of tough decisions while navigating the COVID-19 crisis, companies are now looking beyond recovery and paving the way for a sustainable future.

In this article we take a look at climate change, one of the 5 big risks that can affect all businesses (Pandemic, Brexit, Climate Change, Flooding and Cyber), that we’ve covered in our latest Resilience eBook.

COVID-19 has pulled focus from the long-term risks like climate change

We are living through a black swan event and across the globe energy is being placed in overcoming this pandemic. To this end, COVID-19 is pulling focus from long-term issues like climate change. 

During this time of pandemic, climate change has presented itself through extreme weather. There have been a number of wild fires in different parts of the world, in California, New Zealand, and the Brazilian Amazon, raging while we battled COVID-19.

Closer to home, climate change is believed to have influenced the severity of floods experienced in Continental Europe and the UK over the past few years.
Prior to the pandemic, countries and large international companies were in the process of actioning plans to slow climate change, including pledging to moving towards zero carbon emissions. The UK has been ahead of its European counterparts in this area.

Several organisations are urging the Government to help put climate change back on the agenda, recognising this moment as an opportunity to further a green culture - especially within our companies. Calls for a green reboot, including more home working, more recycling, and low-carbon retrofits in buildings, are being made to the Government, and they are being heard.

Companies and individuals are producing significant less food waste during the crisis; less work lunches and eating out has played a key role in this. While this may disrupt the amount of energy produced through anaerobic digestion using organic matter, from a social perspective less food waste is a positive outcome.

While people were at home there was also less carbon emissions. Unfortunately, during the lockdown household waste went up significantly and councils were even forced to send recyclable materials to landfill.

For companies with strong social responsibility practices, ensuring that this culture will be carried into the homes of your workforce as home working become a norm will be a big challenge.

If you found this interesting and would like to know more about the key risks on the horizon, download our 2020 Resilience eBook. Our latest report explains how these risks have been impacted by COVID-19 crisis and we help you to understand how you make your business more resilient in a challenging market.

Building resilience

Keeping sight of key risks on the horizon, and understanding how these risks have been impacted by COVID-19 crisis, is key for building your businesses’ resilience. Discover more in our latest Resilience eBook.