ABSTRACT
To conclude that a changed risk response makes sense, corporate decision-makers need to affirmatively answer two key questions: Is the problem worth it? Can I succeed? There is no one-size-fits-all approach to answering these questions for decision-makers with very different beliefs and personal backgrounds, and very different business contexts. At a societal level, it is hard to argue that climate risk doesn't justify additional risk management intervention. The companies may wish to enter the fray on the basis of larger societal and sustainability objectives, or on the basis of perceived economic opportunities. These companies may wish to enter the climate risk arena on the basis of larger societal and sustainability objectives, but not because they can hope to materially influence the risks they face. In most cases, however, competitors choosing the simpler 'wait and see' path when it comes to climate change will be less prepared to manage risks or opportunities they encounter along the way.
