Successful companies are used to dealing with risk. For decades, well-run companies have had enterprise risk management (ERM) processes dedicated to understanding how geopolitical events, policy changes, bad actors, new technologies, and cyber threats might impact the business. For asset-heavy industries, like real estate, utilities, and agriculture, ERM teams have long considered climate risks as material to their business.

In recent years, climate risk has entered into the ERM practices of many asset-light companies as regulators and investors encourage adoption of the principles of the Task Force for Climate-Related Financial Disclosures (TCFD). Today, thousands of technology and services companies have integrated TCFD into their public reporting. In the next three years, tens of thousands more companies will start focusing on climate-related financial risk to comply with regulation, meet investor requests, and build more resilient businesses.

Extreme weather events, policy shifts, and investor pressure are forcing companies to face a new reality: climate risk isn’t a distant concern or political talking point, relevant only to certain industries. It’s a direct threat to your bottom line, punctuated by dozens of annual climate disasters costing American businesses over $100b each year. True resilience against climate risk requires more than measuring carbon emissions, buying offsets, or hiring a consultant to write up a TCFD report. It requires integrating climate into your ERM & business strategy.

Enterprise Climate Risk Management (ECRM) is about understanding how climate — in the short-term (like hurricanes and wildfires) and the long-term (like rising sea level or stricter environmental regulations) — impacts every part of your business, from employee health and safety to customer churn to data center durability.

ECRM is about more than complying with regulation. It’s about building a more resilient business, better able to serve customers, protect employees, and reward shareholders. ECRM helps companies move from reactive to proactive, turning climate risk into climate opportunity. You’re not just checking a box, you’re joining a movement of companies who are building resilience and ensuring long-term success in a changing world.

At Beehive, we’re proud to work with the companies leading this movement. We’re here to help you make enterprise climate risk management core to your business.