Regulatory uncertainly is the primary reason many Canadian companies are sluggish in developing strategies to deal with climate change, according to a survey released on Monday by Deloitte.
Although 43% of companies surveyed for Managing greenhouse gas emissions consider regulatory uncertainty the significant barrier, only 20% cite cost concerns.
Deloitte’s second annual survey of Canadian greenhouse gas emitters shows that 94% of respondents have a general awareness of GHG issues, but only 18% have executive-level employees working on the problem.
“While it’s encouraging that the issue of climate change and sustainability is a least on the executive radar screen, the current low level of executive engagement is worrisome,” said Valerie Chort, national leader of corporate responsibility and sustainability services at Deloitte in a release.
Half of the companies surveyed assign GHG policy development to mid-tier management. “To have an impact, climate change and sustainability must be designated as governance and strategic issues requiring CEO commitment and board-level attention,” said Chort.
Three-quarters of companies have done an inventory of emissions and more than half (55%) of companies released information about how their emissions management programs are faring. But only 28% feel their company’s general business strategy have been effectively combined.
More than half of companies (56%) see climate change as an opportunity on the whole in terms of energy cost-savings, emissions trading and new technologies. Tax incentives, energy efficiency standards, emissions limits and emissions trading with intensity-based caps were cited as the favored public policy tools that governments could use to help companies along.
Companies held back by lack of climate change regulations
Regulatory uncertainty is cited as the most significant barrier to taking action on climate change, says new Deloitte survey
- By: IE Staff
- December 10, 2007 December 10, 2007
- 12:10