BCSDH put forward recommendations for the business sector to support the transition towards a low-carbon economy. The four points in the recommendation identify the ways in which Hungarian companies can effectively contribute to global processes. The entire business sector and any company can now take measurable steps forward.

Transition to a low-carbon economy

BCSDH’s recommendations for Business on Climate Change:

1. Analyse the local risks and opportunities associated with climate change, and create related action plans
2. Introduce carbon footprint measurement, analyse results and conduct action planning on an ongoing basis with regard to effectively decreasing carbon emissions
3. Identify and create action plans for energy use and/or CO2 emissions related to the processes of consumption and the use of products and services by shaping the attitudes and behaviour of consumers and customers
4. Raise awareness among employees

Climate change has an impact on both economic and social life and affects natural ecological systems. As a result of industrial and human activities, we have increased the concentration of carbon dioxide and other greenhouse gases in the atmosphere to a level which is aggravating natural trends through the process of climate change. Melting ice floes, rising sea levels, extreme weather, flood and droughts are only some of the consequences that are already tangible and widespread. In the future, enterprises will also have to spend more on mitigating the negative impacts of climate change. These future expenses could include the following items: the cost of preventing climate change and adapting to it, the cost of remediation and the cost of losses that occur due to lack of human intervention. These potential costs are one of the reasons that it is essential that the business sector realizes the risks associated with climate change and manages them. At the same time, in addition to minimizing risks and mitigating the emissions which cause climate change, we also need to put into action initiatives that enable flexible adaptation to changes, including new kinds of models, technologies and solutions.