James Blake of Next Generation Risk Management has warned against the ‘ostrich strategy’ of ignoring climate change and expecting someone else to take care of it. He emphasizes the need to distinguish between facts and fiction and accept that climate change is a reality which has a global impact on businesses. He further highlights that the situation is worsening, and companies must take action and not remain passive. Climate change can impede customer accessibility and employee availability and disrupt supply chains, necessitating strategic planning and scenario planning to establish a resilient infrastructure. Blake outlines a three-step process to develop a strategy to mitigate climate-related risks and advises businesses that for every dollar invested in developing resilience, they can expect a four-fold return.
The impact of technology on society has been considerable. It has been a transformative force in people’s lives, with its various applications altering how we interact with one another, how we access information, and how we go about our daily activities. Its far-reaching influence can be seen virtually all our lives, from work to leisure, communication to entertainment. Technology has created new possibilities and opportunities for individuals and communities, increasing efficiency and productivity. In addition, it has provided us access to knowledge and information that was previously unavailable. Consequently, it has had a profound effect on our lives.