SHARE has been engaging with Canadian companies to integrate climate change considerations into their businesses. All six of the major Canadian banks have begun to respond to our engagement demands and take concrete steps to address climate risks.
With the recent signing of the Paris Agreement on climate change, Canada has committed to limiting the increase in global average temperatures below 2°C, and to pursue efforts to limit the temperature rise to 1.5°C. The years ahead promise physical, regulatory, financial and reputational risks for companies and investors related to climate change. Successful firms and investors will have to adjust to thinking of the long-term sustainability of their operations and how to transition to a lower carbon economy.
Water scarcity is an urgent global issue being exacerbated by climate change and a growing population. By 2030, the world will face a 40% deficit in water supply under business-as-usual scenario predictions.