As more organizations recognize the economic risk posed by a warming planet, internal audit can serve as a change agent.
The adverse impacts of rising global temperatures and extreme weather conditions are becoming a front-line risk for businesses. A 2015 Economist Intelligence Unit study estimated that the value of global manageable assets at risk due to climate change could be as much as $4.2 trillion between now and 2100 in discounted, present-value terms. That is roughly on par with the total value of all the world’s listed oil and gas companies. Meanwhile, increased regulation to confront climate change is gaining momentum around the world.
