At a session this week (2-23) organized by the Center for Climate and Energy Solutions at the Climate Leadership Conference, C2E Staff Scientist Joe Casola facilitated a discussion that asked the 60-plus corporate, nonprofit and government leaders attending to foresee 2035 and predict what business resilience will look like. The absorbing conversation was part of the session “Emerging Best Practices for Identifying Climate Risk and Increasing Resilience.” Other leaders were Rutgers Energy Institute’s Robert Kopp, fourtwentyseven’s Emilie Mazzacurati and Pacific Gas & Electric’s Christopher Benjamin.
Since we are in the midst of the Lunar New Year season, a great time for fortune telling, I thought you would enjoy the group’s top ideas:
- Supply-chain risk synonymous with climate risk, making supply-chain, climate-risk mitigation business as usual.
- A doubling of interest in small business and Main Street, aided by Chambers of Commerce that help build public/private partnerships to increase local government adaptation.
- Climate risk as a shared responsibility across corporate verticals, no longer an exclusive fit with offices of sustainability.
- Insurance priced accurately, providing a forcing function on business and land use decisions.
- Future cost projections of climate change incorporated into financial and economic estimates for all return-on-investment and strategic decisions.
- A generational change in which the leaders in 2035 naturally focus on the question of climate with their work, integrating resilience into their decision making (my favorite).
To these, let me add three of my own:
- A realization that climate change harms the promise of the growing middle class in lower-income countries, sparking a redoubling of interest in investing in resilience in the global south.
- A move away from recovery and toward prevention, facilitated in part by mature warning systems, advanced risk prediction and assessment methods that prove the ROI of resilience.
- A solid pyramid of policies that stack atop each other and form the foundation of good governance. This allows corporations to make resilient business decisions throughout their value chains and to contribute to the good of the commons (worker-protection laws against heat distress, flood plain buffer requirements, landscape water-pricing requirements, etc.)
All of these will be better informed by an agreed-upon measurement of adaptation that rivals the elegant MTCO2E and provides an easy way for everyone to quantify their progress.
What do you think?