Our client, The Chartered institute of Internal Auditors have launched their 'Organisations preparedness for climate change: an internal audit perspective’ report' in partnership with The Climate Group. We have worked with both these bodies over the past few years and are excited to announce, not only the partnership between the two organisations, but also the important findings from this piece of work.
The survey of 122 Chief Audit Executives (CAEs) across all sectors in the UK and Ireland found that half of businesses have done little or no work to prepare for climate change risks, both physical and transition-related.
The results of the survey revealed a disconnect between what organisations increasingly identify as a business-critical risk and the time and resources that internal audit functions spend on climate change.
The Chartered IIA believes that there is a tendency among the private sector to conceptualize climate change – and the related physical, transition-related and reputational risks – as a future problem which does not require extensive planning at present.
“We would urge industry to get to grips with what is coming down the track by building up knowledge and understanding of climate risks and opportunities now – rather than wait around for Government to act,” Chartered IIA’s chief executive John Wood said.
“Climate change is already visibly causing damage to infrastructure and assets, threatening businesses’ reputations, and introducing a whole new level of regulatory and compliance risks that will increasingly test our resilience.”
The b2b team are delighted to see the launch of this climate action partnership, which is an important and key theme we are working with all our clients to address. We developed the partnership between the Chartered IIA, who represent the important Audit and risk function in business, and The Climate Group who bring climate action and business insight expertise to drive forward and raise awareness of this agenda.
About the Chartered IIA The Chartered IIA have over 10,000 members across the UK and Ireland and are part of the Global IIA which has 180,000 members in 190 countries. In Europe, the CIIA is represented by the European Confederation of Institutes of Internal Auditing (ECIIA), which promotes internal auditing to organisations within the European Community, alongside publish research/position papers and organising an annual conference. About The Climate Group The Climate Group are at the forefront of ambitious climate action.
The Climate Group works internationally with leading businesses, states and regions to deliver a world of net zero greenhouse gas emissions and greater prosperity for all. Their focus is on collaborative programs with corporate and government partners that deliver impact on a global scale. To find out more about our work with the Climate Group, view here.
For additional information on this partnership and how b2b worked with CIIA and The Climate Group to develop this partnership, or for further information about future CIIA partnership opportunities, contact Alex Ringoli: Alex@b2bpartnerships.org