A growing number of major global companies are assessing the risks posed by climate change, but many still struggle to translate climate data into actions to improve resilience, according to a new report by the Center for Climate and Energy Solutions (C2ES).
Business resilience is becoming more common given the number of climate related disasters in recent years. Businesses now face a reality of higher frequency and severity of disruption. Whereas it was once sufficient to plan for a plant shut down, fire, or explosion, today’s climate has forced companies to create strategies for supply chain and pubic infrastructure failure. Businesses in Puerto Rico still face these problems one year after Hurricane Maria took down the entire island.
Lessons from emergency management
In emergency management, planning and response, systems of command and response staging have helped companies plan for likely disaster scenarios. Resilience planning requires analysis and planning for longer term and complex scenarios. Getting back to normal can take considerable time especially when widespread damage, external stakeholders and municipalities are involved.
Planning for resilience can be done incrementally and in stages but the organization must also commit to develop expertise in identifying climate risks and building resilience into operating plans through continued evolution of risk assessment and response strategies.
Time to get started
It doesn’t matter whether your company starts with a single, local scenario or an enterprise wide focus on something like water or fuel supply. It is important to start identifying climate risks and build strategies that address these risks.
Navigating the new partnerships needed to build resilience is often a company’s weakest skillset. Dealing with the consortium of public and private stakeholders necessary for the robust analysis, strategy and scenario building required for creating resilience is not business as usual, but it will be.
We enable change leadership. Sustainability is an area where we see leaders grappling with starting and/or sustaining efforts. Get in touch if your company needs a journey partner to help you build climate resilience.
Read the full article at: www.environmentalleader.com