Aviva has launched an index to measure how G7 nations and Ireland are progressing on climate mitigation, resilience and adaptation.
The Climate-Ready Index tracks 11 key metrics of ‘climate-readiness’, including reducing emissions; supporting biodiversity, building climate-resilient infrastructure and helping communities and small businesses prepare for the impact of climate change.
Germany has taken the top spot on climate readiness, the index has revealed, and is followed closely by France, with the UK trailing in third place.
Aviva said the UK’s standing was down to strong performance across emissions and mitigation, highlighting its national Net-Zero targets and ambitious future policies in particular.
It was weaker across all remaining areas of the index, however, ranking fifth for biodiversity and seventh for business readiness, indicating British businesses risked “falling behind in protecting themselves against climate impact and in helping deliver a more climate-ready country and world”.
According to YouGov research, 72% of UK businesses acknowledge they need to get ‘climate-ready’ though just one in three has adequate plans in place.
Just 36% have taken action to protect operations against extreme climate events and 34% currently have a fleshed-out plan to reduce emissions.
Amanda Blanc, group CEO at Aviva, said: “Being climate-ready goes way beyond the critical work of cutting emissions. It is going to take leadership from government and business so that people and communities can be much better prepared across a range of areas, from greener buildings to protecting biodiversity and expanding carbon storage.
“Current financial pressures are understandably making it harder for many businesses to invest in climate action right now, even though they recognise they need to do more. Government and bigger businesses have a responsibility to help SMEs get climate-ready.”
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