Business for Social Responsibility launched the Climate-Resilient Value Chains Leaders Platform to help safeguard business viability in the face of climate change.
The platform features shared tools and data that will enable participating companies to embed climate resilience throughout their value chains.
13 September 2018: Business for Social Responsibility (BSR) has launched the Climate-Resilient Value Chains Leaders Platform. The digital platform will help safeguard business viability in the face of climate change and enable companies to engage with peers to benefit the communities in which they operate. The announcement was made at the Global Climate Action Summit (GCAS).
Participating companies commit to the development of shared tools that will enable them to embed climate resilience throughout their value chains. The tools include investigative methods for examining physical climate risk, as well as means of enhancing resilience through initiatives such as Science Based Targets.
According to CDP data, 76% of suppliers reported climate risk as having the potential to significantly alter their business.
David Wei, BSR’s Climate Director, noted that participating companies understand the importance of coming together around “a common, science-based approach to value chain resilience… to mitigate climate change-related impacts.” The platform will be used for companies to share data – an increasing trend, even among competitors, as common commodities and services are put at risk by issues such as water scarcity and extreme weather events.
Coca-Cola and Mars Incorporated were among the first companies to join. Barry Parkin, Chief Sustainability and Procurement Officer, Mars, emphasized the need to “shift long-term models for corporate buying” so that they are based on principles of reliability, resilience and risk management. Data from CDP (formerly Carbon Disclosure Project) cited in BSR’s press release highlight that 76% of suppliers reported climate risk as having the power to significantly alter their business.