Advertisement

Controlling & Management

, Volume 54, Supplement 2, pp 10–16 | Cite as

Climate change as a driver for the strategic agenda of CFOs

  • Thomas Rüschen
  • Markus Eckey
DIE ROLLE DES CFO
  • 119 Downloads

Introduction

The awareness of climate change and global warming has increased significantly during the past decade. The broad majority of scientists agree on the anthropogenic nature of the significant increase of greenhouse gas (GHG) emission and the resulting greenhouse effect, especially through burning of fossil fuels.

Timing for action is essential as the results from enforced efforts will not be obvious immediately, but will have a profound effect on the climate for the long-term future. No one can predict the consequences of climate change with complete certainty, but we know enough to understand the risks. Mitigation – taking strong action to reduce emissions – must be viewed as an investment, a cost incurred now and in the coming few decades to avoid the risks of very severe consequences in the future. If these developments are made wisely, the costs will be manageable and there will be a wide range of opportunities, growth and development along the way.

We will analyse the...

Keywords

Climate Change Market Risk Sustainability Report Climate Change Risk Capital Allocation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Subject literature

  1. 1.
    Boden, A.: Is finance going green? CEO perspectives on climate change and environmental sustainability, in: CFO Europe research services/ABN Amro, 2007.Google Scholar
  2. 2.
    Carbon Trust: Climate change – a business revolution? How tackling climate change could create or destroy company value, Carbon Trust, London 2008.Google Scholar
  3. 3.
    Davis, T. R. V./McLaughlin, L. P.: Is Finance a Business Partner Yet?, in: Strategic Finance, March 2009, pp. 35 – 40.Google Scholar
  4. 4.
    Deloitte: CFO insights: Sustainability: Developing key performance indicators – Measuring sustainability is the bottom Line, Düsseldorf, München 2009.Google Scholar
  5. 5.
    Dickinson, P: Investor Pressure Companies to Disclose Climate Risk Factors, in: Business and the Environment, Vol. XV (2004), No. 6, pp. 1 – 3.Google Scholar
  6. 6.
    Egon Zehnder International: Managing the Evolving Relationship between the CEO and the CFO, Egon Zehnder International, 2008.Google Scholar
  7. 7.
    EIA – US Energy Information Administration: International Energy Outlook 2009, http://www.eia.doe.gov.
  8. 8.
    Esty, D. C. : What stakeholders demand, in: Harvard Business Review, Oct (2007), pp. 30 – 34.Google Scholar
  9. 9.
    Fligstein, N.: The intraorganizational power struggle: rise of finance personnel to top leadership, in: American Sociological Review, Vol. 52 (1987), pp. 44 – 58.Google Scholar
  10. 10.
    Ginsberg, J. M./Bloom, P. N.: Choosing the Right Green Marketing Strategy, in: MIT Sloan Management Review, Vol. 46 (2004), pp. 79 – 84.Google Scholar
  11. 11.
    International Energy Agency (IEA): CO2 Emissions from Fuel Combustion, International Energy Agency, Paris 2009.Google Scholar
  12. 12.
    IPCC: Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change, Cambridge University Press, Cambridge 2007.Google Scholar
  13. 13.
    Kolk, A./Pinkse, J.: Business Responses to Climate Change: Identifying Emergent Strategies, in: California Management Review, Vol. 47 (2005), pp. 6 – 20.Google Scholar
  14. 14.
    McKinsey & Company: Pathways to a Low Carbon Economy – V2 of the Global Greenhouse Gas Abatement Cost Curve, McKinsey & Company, München 2009.Google Scholar
  15. 15.
    OECD: Factbook 2009: Economic, Environmental & Social Statistics, OECD, Paris 2010.Google Scholar
  16. 16.
    Pinkse, J./Kolk, A.: Challenges and Trade-Offs in Corporate Innovation for Climate Change, in: Business Strategy and the Environment, Vol. 19 (2010), pp. 1 – 18, Forthcoming.Google Scholar
  17. 17.
    Prechel, H.: Irrationality and Contradiction in Organizational Change: Transformation in the Corporate Form of U.S. Steel Corporation, Sociological Quartely, Vol. 32 (2000), pp. 423 – 445.Google Scholar
  18. 18.
    Stern, N.: Report on the Economics of Climate Change, Cambridge University Press, Cambridge 2006.Google Scholar
  19. 19.
    Sullivan, R./Mackenzie, C.: Can Investor Activism Play a Meaningful Role in Addressing Market Failures?, in: Journal of Corporate Citizenship, Vol. 31 (2008), pp. 77 – 88.Google Scholar
  20. 20.
    Wittneben, B. B. F./ Kiyar, D.: Climate change basics for managers, in: Management Decision, Vol. 47 (2009), pp. 1122 – 1132.Google Scholar
  21. 21.
    Zorn, D. M.: Here a Chief, There a Chief: The Rise of the CFO in the American Firm, in: American Sociological Review, Vol. 69 (2004), pp. 345 – 364.Google Scholar

Copyright information

© Gabler Verlag Wiesbaden GmbH 2010

Authors and Affiliations

  • Thomas Rüschen
    • 1
  • Markus Eckey
    • 1
  1. 1.Deutsche Bank AG Corporate and Investment Bank/Global BankingFrankfurt am MainDeutschland

Personalised recommendations