The survey results were announced on June 18, 2019, at the global TIC Summit in Brussels, which was attended by Frankie Ng, CEO, SGS. Conducted by the TIC Council together with Longitude (an FT company), the survey aims to provide a better understanding of the evolving landscape for climate change risk management. It also provides insights into how businesses are planning to mitigate the impact of climate change on the value chain.
A wide range of C-suite executives took part in the international survey across China, France, Germany, India, Italy, Sweden, UK and USA, in industries ranging from automotive and natural resources to financial services and agriculture. Key findings include:
- The three biggest risks identified as climate change, cyber risk and disruptive technology
- 55% of respondents feel less resilient against climate risk than they did last year
- Executives are particularly concerned about the impact of climate change on production
- 71% of respondents are willing to spend up to 14% more on improved risk mitigation
- 76% of executives trust independent third-party testing, inspection and certification companies to assist in reducing climate risk
Frankie Ng, CEO of SGS, commented: “The results of the TIC Council survey highlight the increased awareness of climate risk and the need for businesses to address the issue. As a leading testing, inspection, certification and verification company, SGS offers an in-depth understanding of the challenges posed by climate change and is here to help organizations to adapt and focus on achieving a more sustainable future.”
Read the Climate Change Risk Mitigation Report
The Climate Change Risk Mitigation Report will be available on the TIC Council website in late June 2019.
For further information, please contact:
Media: Daniel Rufenacht
Corporate Communications and Sustainability
t: +41 78 656 94 59
About the TIC Council
The TIC Council is an international association representing over 90 international independent third-party testing, inspection, certification and verification organizations. The industry represents around a million employees across the world with annual sales of approximately USD 200 billion.
SGS is the world's leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 97,000 employees, SGS operates a network of over 2,600 offices and laboratories around the world.