Risk Mitigation Survey: Confronting the Threat of Climate Change
In this report, TIC Council and Longitude want to examine changing attitudes towards risk – and climate change risk in particular. By surveying more than 400 senior executives with strategic decision-making responsibilities, this report elaborates on the dangers of climate change and its impact on supply chains.
This risk mitigation survey carried out by Longitude (a Financial Times company) and commissioned by TIC Council was conducted amongst C-suite executives to explore how businesses are planning to mitigate the impact of climate change.
Key findings include:
- Climate change, cyber risk and disruptive technology were the 3 biggest risks identified
- 55% of respondents feel less resilient against climate risk than they did last year.
- Executives are particularly concerned about the impact of climate change on production.
- 71% of respondents are willing to spend up to 14% more on improved risk mitigation.
- 76% of executives trust independent third party testing, inspection and certification companies to assist in reducing climate risk