Preparing for climate risks helps companies weather Iran war shocks: SGX RegCo
Incorporating such factors in overall risk management is ‘a more holistic approach’
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[SINGAPORE] Companies that have already taken steps to manage their climate-related risks are better able to respond to and withstand the energy shocks arising from the Iran war, said Eliza Tan, head of Singapore Exchange Regulation’s (SGX RegCo) sustainable development office.
The war, which began when the United States and Israel attacked Iran on Feb 28, has exposed companies’ reliance on fossil fuel-based energy sources, as well as the extent to which their operations can be disrupted as oil and gas prices surge.
However, those that have integrated climate-related risks into their overall risk-management strategy and adopted energy-efficient measures are better prepared for the latest shocks.
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