Climate change and the future of globalisation

DESPITE increasing signs of a division of the global economy into political blocs and major challenges such as inflation, we cannot make the mistake of ignoring climate change. Given ever more complex global climate change politics, one point is becoming increasingly clear: Companies will play a key role in establishing the battle against climate change as a fundamental global value.

The unpredictable nature of the operational and balance sheet risks associated with climate change provide a strong incentive for companies to act. This applies to companies individually, but even more so with regard to coordinating their efforts.

The underlying logic is straightforward: When companies set ambitious targets for themselves and simultaneously demand greater commitment and transparency from their top suppliers, pressure for action will build up along entire value chains. This pressure increases when large companies act as pace setters, shaping a path for others to follow.