A simple, quick-to-use, online toolkit will help UK businesses prepare for both climate change risks and opportunities. It has been designed by the enivronment department (DEFRA) and the Chartered Institute of Management Accountants (CIMA).
The toolkit encourages businesses to improve their resilience to climate change and take advantage of growth opportunities. The hope is that it will engage many small and medium sized enterprises (SMEs). “Many SMEs fail to prepare for climate change leaving it to the big players to manage and mitigate those risks,” says Andrew Harding, executive director of CIMA.
A customised report is generated by the toolkit for each business which uses it. This checks supply chain robustness, flood risk and identifies possible changes in customer demand. The toolkit is hosted online by Business Link, the government’s website for information for businesses.
DEFRA has teamed up with the accountancy sector to devise the toolkit because of its ability to influence businesses clients. But Paul Scholes of Accounting Web, a site followed by about 125,000 UK accountants, questioned whether CIMA were the best partner for a toolkit aimed at SMEs.
CIMA represents management accountants employed directly by larger companies. However, SMEs generally use high street accountants affiliated to other professional bodies.