Climate Change is Risky Business. Learn More About Tools, Rules, and FAQs
Increased extreme weather and other climate-related impacts are imposing significant costs on society and on companies. In addition to affecting businesses directly, extreme weather events have economic impacts beyond the location in which they occur, posing threats to infrastructure and business continuity on national and international scales. While some companies have taken steps to assess risks and prepare their business for future climate changes, many companies face various internal and external challenges that hinder efforts to move toward greater climate resilience.
Few companies are taking action to build resilience and are adopting a “wait-and-see” approach due to their uncertainty about how precisely climate change will impact the business. As recognition grows that the near-term risks of extreme weather and climate change impacts are increasing, more companies will likely incorporate these changing risk factors more explicitly into their operational and capital planning decisions.
Companies can take a variety of approaches in assessing climate risks. Some companies examine risks business-wide, while others choose to focus on specific facilities or regions. When beginning an assessment of risks, businesses will need to decide what spatial scale they are interested in evaluating. If resources are limited, companies may consider prioritizing risks to focus on identifying the parts of the business that are most critical.
Water-related stresses are a major concern for many companies and have been the focus of many in-depth assessments. Several good risk assessment tools have been developed by industry groups and through partnerships with non-governmental organizations to specifically assess water risks.
This presentation will be an overview of tools available for vulnerability assessment and adaptation planning based on critical resources. I will provide websites containing tools. The presentation will be interactive with the audience. I will poll the audience to select business sectors and Geographic locations within California. After these selections, we will select the most appropriate tool to use for water related planning and perform a tool demonstration.