TIC Summit - ‘Climate Impact –preparing for change’
TIC Council brings public and private together to discuss climate risk
On 18 June, the TIC Council hosted the global TIC Summit in Brussels. The Summit marks the official launch of the TIC Council, a new international association representing leading companies in the independent testing, inspection and certification (TIC) industry.
The Summit, on ‘Climate Impact –preparing for change’, started with the presentation of an extensive risk mitigation survey conducted by the TIC Council together with Longitude (an FT company), on how industry leaders are preparing for the impact of climate change. Longitude conducted the risk mitigation survey 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
The survey findings were presented by Michael Fübi, CEO of TÜV Rheinland and President of the TIC Council who stated that “The results of the survey really shine a light on the rising importance of climate risk and the need for companies to prepare for this. For us in the TIC Sector, we are also fully aware of and ready to help companies in adapting to the challenges of climate change and working towards a sustainable future”
From left to right: Hanane Taidi, Rochelle Toplensky, Maria Mendiluce, Michael Fübi, Elena Višnar Malinovská, Mark Titterington, Xue Ming
This survey presentation was followed by a keynote speech from Elena Višnar Malinovská, DG CLIMA, European Commission who highlighted that the TIC sector can be an enabler in helping companies adapt to climate change. She applauded the risk mitigation study commissioned by the TIC sector and recognized its importance for regulators.
This was followed by a panel discussion on “Climate Impact – Preparing for Change” which brought together: Xue Ming, from Huawei; Maria Mendiluce with the World Business Council for Sustainable Development (WBCSD) and; Elena Višnar Malinovská from the European Commission; Michael Fübi from TIC Council; Mark Titterington from the Transatlantic Policy Network (TPN). The panel was moderated by Rochelle Toplensky, EU Correspondent for the FT.
The panellists discussed the steps needed to move to a low-carbon society and what’s needed to trigger a mindset shift from industry, government and society to deliver a sustainable future.
About the TIC Council
The TIC Council is an international association representing over 90 international independent third-party testing, inspection, certification and verification organisations. The industry represents around a million employees across the world with annual sales of approximately USD 200 billion.
The Climate Change Risk Mitigation Report will be uploaded on the TIC Council website in late June 2019.