IIA-Australia Factsheet - Climate Related Risks

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Author	IIA-Australia
Date	2022
Topics Explored	Risk Management
Format	Factsheet
Extract/Description	Climate related risk refers to the risk that the activities of an organisation might cause destruction to the surrounding natural environment and potentially wildlife in its natural habitat. It may result from climate change and could potentially impact (a) safety of the Earth and its inhabitants (b) financial stability. Consequently, the risk could potentially translate into reputation and economic consequences for organisations.
Key Points	McKinsey and Company describe seven characteristics that stand out about climate related risk. Climate related risk debate continues and there are various views. There is a push in some circles for climate related risk to be included in good practice corporate governance principles. The Factsheet discusses the climate-related questions to ask organisations.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate