Crisis Management: A Study of Climate Change and The Possibility of Reducing its Impact on the Economy Using Sustainable Finance.

Abstract

Climate change has been recognized as one of the biggest challenges of current times and has become a topic of considerable study and debate. It is predicted to have irreversible impacts on the ecosystem; however, climate change should also be considered a potential threat to the world economy if not properly and effectively addressed. This research attempted to contextualize climate change as not only a corporate social responsibility concern, but mostly as a crisis management issue, as well as to identify sustainable finance as a part of climate solution. The study is divided in two. Firstly, a survey was delivered to the public to assess climate change awareness and perception around the world. Secondly, a case study was conducted to analyse how Australian and French financial institutions are conducting and addressing climate change-related risks, as well as to analyse how the governments’ actions can influence those businesses. The governance of private and public institutions should be accountable to incorporate the environment into decision-making; stakeholders are responsible to ensure that initiatives are implemented.