Understanding Climate Change Risks

As part of our overall risk management process, this year we specifically identified issues and events related to climate change that could affect our business. These ranged from severe disruptions brought about by a changing climate, pandemics, resource scarcity and impacts to our supply chain. While this work is still ongoing, our initial findings show that we have some of the contingency plans in place as part of dealing with weather-related disruptions; but also that more work needs to be done to understand the full impact of climate change to our business. We are exploring the use of scenario planning tools and methodologies to assist us in developing our understanding of climate change.

In 2012, we will be working not only on this issue internally, but also with like-minded companies in Hong Kong through the Climate Change Business Forum (CCBF), of which we are a member. CCBF is planning to embark on a climate change risk study in Hong Kong that is aimed at understanding the appropriate tools and information Hong Kong and its companies need to better prepare to adapt to climate change.

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