As the world’s elite meet in Davos this week for the World Economic Forum , albeit without President Cyril Ramaphosa, one might ask what will happen for climate change. A recent forum report points to climate risks being recognised as high on the list of challenges facing businesses worldwide. However, COP27, another gathering of the great and good, was something of a damp squib, with little noticeable progress and hardly a source of optimism for when the rich and powerful get together.
At best COP27 may be seen as a defensive event of a COP26 target already regarded as rather modest. Climate experts had called for a ratcheting up of ambitious and new targets, but instead got a 1.5°C target “on life support”, as described by the COP26 president, UK politician Alok Sharma. The prospects for COP28 in an oil-producing region of the world do not inspire much optimism.
Business schools thus have huge potential leverage, being part of the trusted group but with access to those in business making many of the key decisions. With one in three of undergraduates worldwide intending to graduate with a business, economics or law degree, the influence of many future business leaders is potentially large.
But there are other ways for business schools and their graduates to have an impact. Those one-in-three undergraduates often go on to managerial positions in business and civil society at all levels. If those alumni can be equipped with the right climate-related skills their impact will be significant throughout the organisations in which they work.