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Media release Swiss companies are not sufficiently prepared for climate change
Zurich, 12 December 2023 Sustainability is increasingly becoming an imperative for Swiss companies. Implement Consulting Group, together with engageability, has analysed how well prepared the top 100 Swiss companies are for climate change as part of the "Climate Change Readiness" study. While most of the top 100 companies have addressed the new developments in connection with the climate reporting regulation that comes into force on 1 January 2024, future climate-related impacts on markets and supply chains have hardly been factored into companies' strategies. The analysis shows that the individual business case is still unclear for a majority of Swiss companies and that the emerging regulatory framework poses various challenges. The study concludes:
Many companies surveyed on the opportunities presented by climate change believe that actively addressing climate change will help to ensure business continuity and promote product and business model innovation. Two-thirds of the companies surveyed on the challenges of climate change see keeping pace with the increasing burden of regulations related to climate change as the biggest challenge. Manuela Huck Wettstein, leading the study at Implement: "Companies should prepare for climate change for their own good. To do this, it is crucial that companies shift their perspective from looking at carbon emissions alone to adapting to climate change, evaluating their resilience under different future scenarios, and creating a transition plan to prepare for a sustainable future". Methodology of the study The study is based on an analysis of publicly available sustainability reports and CDP reports from the 100 largest companies headquartered in Switzerland that fall within the scope of the Climate Reporting Ordinance, which comes into force on 1 January 2024. The analysis was supplemented by an online survey in which 28 of the 100 largest Swiss companies took part. The study assessed companies' readiness for climate change based on 32 criteria, which were mainly derived from the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)*. The TCFD framework is part of the Swiss Climate Reporting Ordinance. The study was conducted in summer 2023. About Implement Implement was founded in Denmark and has offices in Copenhagen, Aarhus, Stockholm, Malmö, Gothenburg, Oslo, Munich, Hamburg, Düsseldorf, Zurich and Raleigh. Implement has more than 1500 consultants working with clients worldwide on projects of all shapes, sizes and ambitions. Implement offers a wide range of services, including strategy development, organisational design, change management, digital transformation, operational excellence and corporate sustainability. Implement believes that great organisational impact leads to great impact for humanity. Implement's goal is to catalyse real transformation by bringing analytical capabilities, functional expertise and human insights into play in a way that creates impact. Contact: Implement Consulting Group AG Manuela Huck-Wettstein
Additional features: File: Implement MM ESG 2023_Final en File: IM_ea_Climate Change Readiness Report - FINAL
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1794493 12.12.2023 CET/CEST