Climate change poses potentialrisks and opportunities to business in the form of current and possible futuregreenhouse gas regulations and emissions trading systems, changing attitudes ofinvestors and consumers, evolving product markets and actions taken bycompetitors. The physical effects of climate change with regard to changes intemperature and weather, water availability and other changes can affectbusiness processes, fixed assets like buildings, and resource availability.Business opportunities may also arise from management of the risks associatedwith climate change. Companies that identify and analyse emerging risks earlierthan their peers will be better positioned to avoid or mitigate potentialdamages.
To help industry contractclimate risk and exploit market opportunities and become climate resilient, CIIinstituted a Climate Action Programme CAP 2.0° to build capacity of industryand recognise best practices and innovation on climate action. The awards aimat driving meaningful corporate actions on climate change and promoting theintegration of such action into organisational business models and processes.