BSR Insight | Climate Adaptation Measures to Manage Risks and Create Opportunities
With the increasing severity of storms and weather disasters, receding rivers, advancing deserts, and more frequent landslides, floods, and sinkholes, there's no question that the effects of climate change will test business' ability to deliver products and services.
But company leaders also will need to understand how climate change will affect their most vulnerable stakeholders—the poor, citizens of developing countries, migrants, and others—who face greater risks due to drought, disease, and displacement resulting from these challenges.
To prepare their business and stakeholders for climate change, BSR recommends that company leaders pursue adaptation measures:
- Develop a value chain model for assessing how climate change affects your business.
- Perform a financial analysis that compares outcomes both with and without adaptation measures.
- Identify the company’s greatest financial uncertainties, which can be used to recognize opportunities for working with peers and policy makers.
- Make a checklist of potential climate impacts that includes both long-term processes like sea-level rise and singular events such as storms—as well as options for addressing them.
For more on climate change adaptation, contact Ryan Schuchard.
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