How is climate risk reshaping the way businesses operate and plan for the future?

Dominic Waughray, Executive Vice President at the World Business Council for Sustainable Development (WBCSD), explores how physical climate risks - from floods and droughts to water scarcity and heat stress - are increasingly shaping business strategy, operations, and investment decisions.

He explains that these risks are no longer just operational issues. They affect costs, supply chains, workforce wellbeing, and long-term competitiveness, making them impossible for companies to ignore. In response, many leading businesses are carrying out materiality assessments, examining how dependent they are on natural resources like water, timber, and clean air, and setting clear, measurable targets to reduce carbon emissions.

Dominic shows how applying change management principles can help companies break down complex sustainability challenges into practical, sector-specific actions. While approaches differ across industries and regions, together they contribute to the wider transformation needed by 2030 - cutting emissions, restoring nature, and building more resilient business models.

This conversation is essential for business leaders, policymakers, and researchers working at the intersection of sustainability, climate risk, and corporate strategy.