Climate change entails not only obvious environmental and financial risks, but may also entail a new wave of migration. According to experts, business should be ready to change the structure of the labour market. This, the Made in Russia correspondent reports, was discussed today during a discussion on environmental, social and corporate governance (ESG) features.

CLIMATE MIGRATION

"We often talk about the financial and environmental impact of climate issues, but forget about the social aspect. It seems that climate change primarily hits other areas, but the social problems that will be caused by climate change in the coming years will quite strongly affect public policy, as an important issue arises - the issue of climate migration," said Natalia Makovetskaya, director of ESG practice of Baikal Communications Group, consultant in circular economy of UN consultant organization Hecho Por Nosotros (Argentina), Russian expert of UNDP development programs.

She explained that within the country there will be increased migration between regions: people will move from regions that are most affected by climate change to others with more suitable living conditions.

"Also we will probably see external migration from climate-unfriendly regions on the border with our country. These are the regions of Central Asia, which is considered one of the critical regions, as the problems of drought and land degradation there will only worsen, and the outflow of people will increase," the expert noted.

As a result, the issue of climate migrants could lead to social conflicts, she fears. "Both the recipient regions and the regions where the outflow will take place need to be prepared for this," said Makovetskaya.

However, she underlined that this also has serious consequences for business. "If people do not go to the region, do not work, then new systems of motivation of employees will be needed," - said the expert.

FOREWARNED IS FOREARMED

Makovetskaya noted that climatic risks should already become one of the main risks for entrepreneurs. "I think that within 10 years we will face all these problems. All these processes are already underway, just a little further from Central Russia, it seems to us that it is far away, but it is already here and it will be exacerbated within 10 years," - said Makovetskaya.

Stepan Yashin, a partner at McKinsey Russia, an international advisory firm specializing in strategic management, agreed that businesses "that do nothing now are most exposed to climate risks".

Made in Russia / Made in Russia

Author: Maria Buzanakova