International SOS has published insights from its Risk Outlook 2024 report, which shed light on the impact of climate change on businesses worldwide
The report revealed that 72% of respondents believe that extreme weather events will have a significant impact on their business or people this year.
The International SOS Risk Outlook 2024 report also outlines the diverse consequences for the workforce, including increased health risks such as heat-related illnesses and associated decreased productivity.
Extreme weather events also have the potential to lead to disruptions in global supply chains. Beyond the physical implications, mental health and absenteeism are also key factors, as climate anxiety grips people across the world.
Dr Philippe Guibert, global medical director, Europe Practice, International SOS Consulting said, “ From worsening air quality and the spread of emerging diseases to the mental health toll of natural disasters and climate anxiety, we are seeing a concerning trend. In fact, air pollution is the leading environmental cause of illness and premature death.”
Top five measures for safeguarding workforce
• Develop a comprehensive climate risk management plan: strategically map climate change impacts on operations to inform mitigation strategies and investments effectively.
• Engage employees across the organisation: foster collaboration among HR, risk managers, and the C-suite to harness diverse expertise in combating climate-related risks.
• Enhance security protocols and prioritise medical preparedness: establish a system to identify, assess, and control health and security risks related to climate change. Understand the capacity of local healthcare facilities and ensure access to medical care during disruptions.
• Provide workforce with adequate emotional support solutions: implement programmes to address the mental health impacts of climate change on employees, such as anxiety, stress and post-traumatic stress disorder (PTSD).
• Leverage external expertise and data: harness the insights and support of third-party experts to conduct a climate vulnerability risk assessment and learn best practice to navigate the complexities of climate risk management effectively.
Mike Rogers, chief security analyst at International SOS, said, “It is more important than ever for organisations to monitor these events, prioritise climate resilience and incorporate proactive measures into their operational frameworks.”
