HDI Global has introduced Climate Consulting, a new service aimed at helping businesses assess and manage climate-related risks.
The service provides companies with analysis of location-specific exposure to chronic and acute physical climate risks, along with strategies to mitigate potential impacts.
The Climate Consulting service assesses physical climate risks under three climate scenarios over various time periods up to 2100, offering businesses a forward-looking evaluation of their climate exposure.
It includes a desktop assessment of topography, regional climate, and current and future natural hazard risks, as well as on-site inspections to evaluate potential climate risk impacts on infrastructure, logistics, and facilities. A site-specific advisory report is also provided with tailored risk mitigation measures.
The Financial Times reported that a surge in climate-related regulations has driven companies to invest more in sustainability consultancy. In the UK, sustainability consultancy spending is projected to rise by 6% in 2024, as companies strive to comply with new environmental, social, and governance (ESG) regulations.
Consultants play a crucial role in helping businesses understand their material risks and impacts, as required by directives like the EU's Corporate Sustainability Reporting Directive (CSRD)
HDI Global said that Climate Consulting is designed to help businesses identify risks and develop strategies to address them.
Lars Regner, head of resilience services at HDI Risk Consulting, said the service responds to growing client demand for operational recommendations that enhance climate resilience.
Climate Consulting provides recommendations based on data analysis and on-site assessments. The service conducts technical risk assessments on specific plants, processes, and operations to evaluate future physical climate risks and propose mitigation measures.
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