Members of Ilchamus and Tugen communities living on the shores of Lake Baringo in Kenya together with Kituo cha Sheria (a Kenyan Human Rights Non-Governmental Organization) have through Acorn Law Advocates-LLP filed a climate change petition being Iten ELC Petition No. 007 of 2022 – Legal Advice Centre T/A Kituo cha Sheria & Anor v […]
Environmental risks, generally, refer to the exposure to liability for infringement of environmental obligations or damage or harm to the environment with resultant negative consequences on human health and the environment. “Environmentally dirty businesses” by extension soil their reputation and risk becoming international pariahs.
Types of Environmental Risks?
Diverse business entities may be exposed to different risks depending on the nature of their operations. Five general types of environmental risks can however be identified.
First, in a dynamic business environment, environmental compliance risks might arise for instance where a business operates without requisite permits or licenses and thereby fails to fulfill legal requirements.
On 9/8/2021, the Intergovernmental Panel on Climate Change (IPPC) released its report finalizing the first part of the Sixth Assessment Report, intituled Climate Change 2021: The Physical Science Basis, which is a contribution by Working Group I to the Sixth Assessment Report. The report confirms mounting scientific evidence that runaway anthropogenic climate change is increasingly inching closer to a tipping point. Climate change related disasters are now becoming globally visible with disturbing frequency. Presently, at least 65 people succumbed to wildfires in Algeria, a devastating wildfire rages in the Greek Island of Evia. In Turkey, at least 8 people have been reported dead due to wildfires and similar fires have been reported in Italy and Southern Europe. These forest fires come hot on the heels of floods that pummeled North Rhine-Westphalia and Rhineland-Palatinate in Germany in mid-July, leaving behind a trail of destruction. Other parts of Europe also experienced the sporadic but devastating floods.
Corporate entities fundamentally contribute to environmental degradation, similarly, they possess unmatched potential to combat and redress negative environmental effects. The quest for sustainable development, therefore, means that corporates must be conscious and intentional about their environmental responsibility.