Business needs support to play part in climate change challenge - Chamber

Reducing carbon emissions and playing a part in the climate change challenge makes good business sense - but firms need increased support to do so.

That 's the view of Greater Birmingham Chambers of Commerce in response to a report from the IPCC on the expected impacts of climate change.

The Intergovernmental Panel on Climate Change (IPCC) provides regular assessments of the impacts of and actions to reduce and prepare for climate.

The report has been signed off by 234 scientists across more than 60 countries.

Key points from the report include:

• To prevent the worst impacts from climate change, the world must keep below 1.5�C rise from pre-industrial levels, currently we are at 1.1�C.
• The Arctic is likely to be practically ice free at least once before 2050
• Extreme weather events will continue to be unprecedented even at a warming of 1.5�C
• Lowest to highest emission scenarios found rises of 1.5-1.9�C by 2040, 1.6-3�C by 2060, 1.6-5.7�C by 2100.
• Lowest to highest emissions scenario results found 0.5-1m sea level rise by 2100

The impacts of forest fires in Turkey and California are testament to current rising temperatures as well as the extreme flooding in London and Europe and UK heatwave where the MET office released its first ever extreme heat warning.

As a result, there has been increased supply chain disruption, migration of people, local and global economic damages and loss of life.

A survey revealed a mixed response to the challenge from businesses in the West Midlands.

It revealed 81 per cent are acting on their environmental concerns, but Covid-19 has impeded net zero progress for 78 per cent of businesses.

Forty-three per cent of businesses have an environmental sustainability policy, with 10 per cent including a specific net zero policy.

However, carbon dioxide/greenhouse gas reduction targets are being adopted by just 14 per cent of businesses and only 13 per cent of businesses are measuring them.

The primary reasons for businesses taking action to reduce their environmental impact are environmental concerns (81 per cent), efficiency gains/cost savings (59 per cent) competitive/reputational advantage (37 per cent) and demand from stakeholders/society (23 per cent).

Furthermore, 26 per cent of businesses are under pressure to provide evidence of environmental sustainability when bidding or tendering and 55 per cent businesses agree that their customers want to make more sustainable purchasing decisions.

Firms still face many barriers to accelerating progress to net zero.

The largest are lack of capital, grants or finance (35 per cent), upfront adaptation costs (33 per cent), lack of knowledge and information (up to 18 per cent).

Will Hargreaves (pictured), the Chamber 's environmental policy lead, said: “As we start to recover from the pandemic, the IPCC report confirms how the future could look if we do not rise to the climate challenge.

“The good news is this is a very solvable problem and makes good business sense, as we 've learned from speaking with businesses amongst the Chamber network.

“For businesses that want to learn more about what they can do to reduce their carbon emissions and how to reap the benefits, I urge them to see our Sustainable Business Series: Net Zero campaign.

“We have also recognised the need for increased support for businesses on their net zero journey through our environmental policy recommendations to Government, shaped in consultation with our members.

“The local business community will play a significant role in meeting the climate challenge. Collectively, we can work together to encourage and improve the business communities net zero progress and protect future generations. ”

Learn more about the Sustainable Business Series: Net Zero here

See the GBCC 's policy recommendations to Government here

Read the IPCC report here