Weathering the Storm: Building Business Resilience to Climate Change

Center for Climate and Energy Solutions (C2ES)
http://www.c2es.org/initiatives/business-resilience

[From Press Release] …In a major report, Weathering the Storm: Building Business Resilience to Climate Change, C2ES provides a detailed snapshot of the state of resilience planning among a cross-section of global companies and outlines steps companies can take to better assess and manage their growing climate risks…

Key Findings:

  • Ninety percent of S&P Global 100 Index companies identify extreme weather and climate change as current or future business risks.
  • Almost two-thirds (62 percent) say they are experiencing climate change impacts now, or expect to in the coming decade.
  • Companies are most concerned about the direct impacts of extreme weather on property, production and supplies, and indirect impacts on operational costs, such as higher prices for commodities or insurance.
  • Most companies are managing these risks through existing business continuity and emergency management plans. Only a few have used climate-specific tools to comprehensively assess risks.
  • Most companies (75 percent) also see new opportunities from a changing climate, including drought-resistant crops, storm-resistant building materials, and weather-related insurance products.

Recommendations:

  • Create a clearinghouse for reliable, up-to-date data and analytical tools. Companies need user-friendly, localized projections of climate changes and models that link projections to impacts that matter most.
  • Invest in public infrastructure resilience. Roads, bridges, ports, and other public resources used to transport goods and services to market must withstand extreme weather and climate impacts.
  • Consider resilience needs in regulation. Companies in regulated sectors, such as water, electricity, and insurance need regulators to be forward-looking and open to companies making the case for more spending son resilience.
  • Set up voluntary, public-private partnerships. ┬áBring together government and business expertise to improve resilience planning.
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