The importance of sustainability in corporate management, with greater attention to the problem of global warming, is an urgent issue that will guide the next decade — and a priority for CEOs. It is the boards of leaders that have led the acceleration of measures to contain climate change in Brazil, with the implementation of the carbon market. It is no wonder that the largest asset management company in the world, Black Rock, has been taking a strong stance on the issue and demanding that its boards take concrete measures. In a second letter addressed to its clients (the first was in January of last year), Black Rock CEO Larry Fink was emphatic in stating that climate change has become a determining factor in the long-term prospects of companies. And that only companies that prioritize the issue will be able to achieve economic growth and prosperity. What Brazil has been doing is an important example of how the private sector is subsidizing the government based on the scenario of the PNE itself.
Research from a range of organizations—including the UN’s Intergovernmental Panel on Climate Change; the BlackRock Investment Institute; and many others, including new studies from leading business consultancy McKinsey on the socioeconomic implications of physical climate risk—is showing how climate risk will impact the physical world and the global system that finances economic growth. It is up to all of us to facilitate this transition to a more sustainable world. There is no turning back from this path, which needs to be increasingly green.
