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29.03.2019

[eNews] GNAM Climate Change Survey Yields an Urgent Call for Climate Education and Business Actions

Business schools must make climate change an urgent part of the curriculum, according to a survey of 169 faculty experts in the Global Network for Advanced Management (GNAM), a coalition in which the HKUST Business School is one of the 30 member schools.

While experts agree that climate change poses a material risk to businesses, respondents say action must be taken to address climate risks regardless of government policy. Nevertheless, most estimated that global carbon regulation is achievable by 2030. 

Key findings:

• A decisive 93 percent of Global Network faculty members think climate change poses a material risk to business across sectors, and 86 percent of the experts surveyed agree that businesses cannot depend on governmental action to slow climate change.

• Further, more than 70 percent say that companies should incorporate climate change into business decisions; there is significant concern about the sustainability of physical operations and supply chains.

• Despite the urgency around the issue, faculty experts didn’t converge on a single solution for influencing businesses’ behavior on climate; only 50 percent backed a global carbon tax.

• Still, experts are optimistic that a worldwide carbon tax is indeed achievable, with most respondents estimating such a tax is likely by 2030. Close to zero respondents think that a carbon tax or carbon-neutral economy will never happen.

• Overwhelmingly, professors at top business schools agree that climate change and its impact on business and society should be incorporated into the core MBA curriculum. Interestingly, the survey responses on how to achieve this span a wide spectrum— from emphasizing the risks of climate change to discussing its opportunities, indicating that business students should learn a balance of climate-driven risks and rewards for businesses.

To see the full survey results: https://www.advancedmanagement.net/faculty-flash-survey-climate-change-urgent-business-priority-experts-say


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