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Retailers’ Climate Change Efforts Lower Costs, Operational Risks

Retailers are ramping up their sustainability initiatives to lower costs and operational risks, in response to global warming and changing weather patterns, according to PricewaterhouseCoopers’s Retail & Consumer Insights Climate Change report.

As financial costs of climate change continue to mount, businesses are becoming leaner and smarter when considering the long-term investments they need to make to reduce their carbon footprint, conserve natural resources and improve energy efficiency, PwC says. The report outlines the following steps retailers are taking to build resiliency and stability in the face of climate change:

  • Establish long-term relationships with suppliers and invest in how they operate.
  • Address increasing demands from stakeholders and consumers.
  • Halt deforestation and conserve water to foster trust in local markets.
  • Embrace clean power/energy-efficient equipment by redesigning how products are made and used.

Earlier this year, PwC identified three key trends that will be top of mind for companies as they seek ways to complement their business strategies with sustainability.

 

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One thought on “Retailers’ Climate Change Efforts Lower Costs, Operational Risks

  1. Although I haven’t read the report, from what I know about PricewaterhouseCooper reports, they tend to only focus on Fortune 500 companies, in this case retailers. Unfortunately, most retailers out there aren’t Fortune 500 companies so this report is pretty much meaningless as a means of gauging how ALL retailers are preparing for climate change.

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