Management of climate change risks in Indian organisations: A proposed framework

Abstract

This study focuses on determining how climate change risks affect Indian organisations. A framework consisting of four steps (monitoring, analysis, evaluation, and implementation) is proposed to guide organisations to address the climate change challenge. Climate change risks, drivers, and mitigation actions were evaluated by designing a questionnaire and overseeing it to 257 manufacturing organisations. The findings from this study suggest that energy and its price may influence a major impact of climate change challenge. The respondents view on competitive risk is found as the most critical climate change threat. Top management commitment is viewed as a key driver to propose a likely framework. The mitigation action that most organisations have undertaken is energy efficiency. Further, multiple regression analysis shows a significant relationship between climate change risks and drivers, and climate change risks and mitigation activities. The outcomes from this study will be useful for organisations to determine the potential risks and ascertain further actions to mitigate them for India and elsewhere.