The Pew Center on Global Climate Change has released another great report, this one addressing businesses and how they should consider the potential impacts of climate change on their operations, their models, their strategies and their planning. While ICLEI serves as a guide for local governments and various activist groups such as the Post Carbon Institute and Transition Towns help organize civic groups, businesses have so far lacked frameworks for dealing with climate forecasting.
Adapting to Climate Change: a Business Approach is a document that all businesses – large, small, local and global – should read.
Climate change represents a new and somewhat daunting topic for many businesses. The challenge is compounded by the diverse and uncertain projections of changes in temperature, precipitation patterns, extreme events, and other effects. This paper outlines a sensible business approach to analyzing and adapting to the physical risks of climate change. It focuses on a critical first step in assessing these climate impacts: understanding the potential risks to business and the importance of taking action to mitigate those risks. Not all businesses need to take action now; this paper develops a qualitative screening process to assess whether a business is likely to be vulnerable to the physical risks associated with climate change, and whether a more detailed risk assessment is warranted.