Ports: Staying Competitive Through Climate Adaptation
Climate Adaptation, Corporate Risk, Ports, Risk Management, Transportation
Climate change will impact longstanding infrastructure, such as our ports. And since the vast majority of non-service-sector corporations rely on ports for some part of their supply chain, a framework for both evaluating and mitigating the risks of climate change on port operations can help us find ways to evaluate risk. Climate change is likely to impact:
• Navigation and berthing
• Material and goods handling and storage
• Transport inside the port and inland
• ESG performance
• Insurance rates and availability
• Demand for port utilization
Suggested solutions include raising causeway road heights, paving unpaved surfaces, increasing bridge clearances, increasing culvert diameters, reconsidering road underpasses, improving drainage, developing trade in climate-resilient commodities, protecting storage areas from flooding and adding additional insurance.
Generally, building to a higher standard is now a viable climate adaptation for long-life infrastructure. Ports that begin now to increase the reliability of their infrastructure can improve their economic performance and attractiveness to investors and users.