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How does business prepare for short term shocks and long term resilience to climate change?
The world’s economy is crucially dependent on water. Agriculture (70 per cent) and industry (20 per cent) constitute most uses of the world’s freshwater consumption. Climate change introduces uncertainties to the water cycle that requires businesses to adapt and innovate in order to endure and thrive. Businesses of all sectors must approach climate change systemically, changing their overall business strategy to better understand, anticipate and navigate new risks and opportunities. Such an approach will need to be inclusive and consider broader dynamics within the catchment under different scenario and timeframes. Companies are partnering with stakeholders on reforestation and wetlands reconstruction and working with regulatory agencies to improve water management. Green solutions underpinned by innovative financing models are creating new opportunities at all levels including for local communities. But much more needs to be done to mainstream resilience planning across sectors and value chains.

Aug 25, 2020 06:00 AM in Pacific Time (US and Canada)

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