The earth's climate and atmosphere are changing and, as a result, global business landscapes are shifting. Devastating hurricanes and tsunamis, record-breaking heat waves, droughts and floods have become increasingly common. Whether or not these climatic changes are caused by carbon emissions, ozone depletion or global warming, one thing is certain: Businesses are aware that public opinion around issues such as climate change and the depletion of natural resources will affect their ability to sell their products or services and define their brand and reputation in the global marketplace.

For businesses to survive into the future, they must address these issues and promote a business culture and a philosophy that embrace corporate sustainability.

The Kyoto Protocol is an agreement under which 165 industrialized countries have committed to reducing their collective emissions of greenhouse gases by 5.2 percent compared with the year 1990. Businesses face huge penalties if they fail to reduce these gases, which include carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, HFCs and PFCs by the 2008 to 2012 window. And while the United States did not sign the Kyoto Protocol, it is a significant regulation for any organization conducting business internationally.

Additionally, on Sept. 1, 2006, California's legislature approved the broadest restrictions on carbon dioxide emissions in the United States. They require a 25 percent reduction in carbon dioxide pollution produced within the state's borders by 2020, which would bring the total down to 1990 levels. According to The Washington Post, in at least eight other states, political momentum is building to take similar steps to limit emissions of greenhouse gases linked to climate change, a trend that could increase pressure for a federal program.

Many well-known companies are implementing innovative initiatives that address sustainability issues, resulting in an environmentally-friendly approach to doing business around the world. Wal-Mart, Starbucks and McDonald's have all worked with a group called Conservation International to develop business process improvements, including energy efficiency, recycling and purchasing methods, that protect tropical regions and promote sustainable agriculture and fishing.

We spoke to two experts about the concept of sustainability risk management (SRM) and its application to organizations seeking to adopt more eco-efficient business practices. Peter Breitstone is the managing principal and CEO of Aon's environmental services group, and Rick Shanks is the national managing director of Aon's agribusiness and food system group.

Peter Breitstone: There are two facts that every business has to face. First, regardless of whether global warming is caused by carbon emissions, people around the world believe that the reduction of these emissions is essential to the future of the planet. As risk management professionals, we have to help our clients respond to this prevailing attitude and search for alternative energy sources and ways to reduce carbon emissions.

Second, our alarming rate of depletion of natural resources suggests that organizations in all industries should strive to be more efficient in their use of those resources. The "go green" mantra is a component of the bigger picture of corporate sustainability. For organizations to remain viable in future generations, and to protect our quality of life, they must identify ways to curb pollution, search for alternatives to scarce natural resources and reduce energy use. Conservation has become a key risk issue, and our role is to help companies learn to identify and manage sustainability risk.