Only 20 percent of organizations surveyed have identified climate-related risks across their operations, according to the latest report from ACCA. Additionally, only 17 percent of organizations regularly rehearse their response to major disruptions, and 25 percent have no mechanisms in place for building climate resilience.

Overall, respondents said their organizations have been impacted by the following:

• Power outages (32%)
• Supply chain disruptions (32%)
• Employee health (30%)
• Transportation disruptions (27%)
• Regulatory compliance issues (22%)

Power outages also topped the list of climate-related disruptions in Africa specifically (54% of respondents), with supply chain breakdowns (41%) and employee health issues (39%) leading in North America.

Despite this, two-thirds of total respondents say their organizations are not investing adequately to address the physical risks posed by climate change, and only 37 percent are planning to increase spending in this area.

“Organizations must make climate adaptation a priority – not only to safeguard their operations but to protect the people and places at risk,” said report author Emmeline Skelton, Head of Sustainability at ACCA. “Rising temperatures, more intense rainfall, and swelling sea levels make the evidence unmistakable: we must act now to build resilience and mitigate further harm.”

Read more at ACCA.