Climate resilience refers to the capacity of a company's assets to endure and recover from severe weather events and long-term variations in weather patterns or seasons. According to the Intergovernmental Panel on Climate Change (IPCC), it is defined as "the ability of interconnected social, economic, and ecological systems to adapt to a hazardous event, trend, or disturbance, and respond or reorganize in a way that preserves their core function, identity, and structure."
Numerous sectors, ranging from utilities and telecommunications networks to manufacturing supply chains and agriculture, rely on assets and systems that were originally designed for previous climate conditions that have significantly changed or will soon change. The evolving climate hazards, including soaring temperatures, heatwaves, intense droughts, and extreme rainfall, pose challenges to buildings, offices, hotels, factories, and other critical assets. Even areas that have historically faced such hazards are struggling to withstand the intensified frequency and severity of extreme weather events.
To achieve climate resilience, businesses must duly consider climate risks when managing present and future assets, thereby prompting adjustments in design, construction, policy-making, investment strategies, and overall business practices. Known as "adaptation," this process involves effectively responding to actual or anticipated climate conditions and their consequences. Implementing adaptation measures is paramount in establishing a robust foundation for climate resilience.
Why is climate resilience so critical?
Extreme weather events are increasing in severity and frequency all over the globe, putting financial assets worth an estimated US$2.5 trillion at risk (Cervest survey). Seasonal patterns are shifting, and the UNFCC states that the global climate is changing at unprecedented rates in recent human history. Climate change poses significant challenges to corporate physical assets, with 88% of companies already experiencing the impact of extreme weather on their offices, warehouses, and other buildings.
While boardroom agendas have rightly focused on decarbonization strategies, it is crucial to consider the full picture of climate resilience, including managing physical risk. Achieving Net Zero greenhouse gas emissions is essential for long-term climate stability. Despite complete decarbonization today, historical emissions guarantee climate volatility for decades to come. To navigate the inevitable impacts on people, operations, and bottom lines, businesses must prioritize adaptation and build resilience.
The Global Commission on Adaptation (GCA) highlights that adaptation not only minimizes climate risk but also brings economic gains and delivers additional social and environmental benefits. Well-adapted businesses enjoy significant advantages, such as insurance and financing benefits for assets with lower climate risk. They can scrutinize partners' exposure and strengthen supply chains, wind down unsustainable and risky operations, adapt vulnerable assets, and uncover new investment opportunities. Additionally, in an increasingly volatile market, consumers prefer more resilient providers. Resilience efforts contribute to improved staff retention, morale, and sound business sense, as the GCA's research reports cost–benefit ratios of 2:1 and 10:1, or higher, for adaptation investment.
How do I get started?
Emissions, particularly carbon dioxide, are the primary drivers of climate change. As a result, more companies are taking steps to monitor and reduce their emissions to become more sustainable. However, measuring your emissions can be a daunting task, particularly for companies with complex operations. Thanks to advancements in technology, such as the AireCore from Spectaire, measuring emissions has become an easier task. Emissions measurement is the first step in your journey to building climate resilience into your operations.
Measuring GHG emissions is becoming increasingly important for companies to reduce their environmental impact, and to comply with regulations that require emissions reporting. While it may seem like a straightforward process, accurately measuring emissions can be a complex task. There are various types of emissions to measure, including carbon dioxide, methane, and nitrous oxide. Additionally, emissions can come from various sources, such as vehicles, manufacturing processes, or burning fossil fuels. Therefore, it is important for companies to have accurate measurements of GHG emissions to understand their impact and develop strategies to reduce them effectively.
AireCore is a portable micro mass spectrometer that can analyze gas samples on-site. It can quickly and accurately measure a range of GHG emissions, including carbon dioxide, methane, and nitrous oxide. AireCore can also detect other gases that are harmful to the environment or human health, such as sulfur dioxide and ozone. By using this technology, companies can gain a better understanding of their emissions, and develop a more accurate emissions profile that can guide their emissions reduction strategies.
Accurate emissions measurement is vital to becoming more emissions resilient. By understanding your emissions profile, you can take steps to mitigate your impact on the environment, reduce your carbon footprint, and lower your environmental risk. This can also help to minimize the likelihood of regulatory or reputational risks that may arise from non-compliance with environmental regulations or public pressure to reduce emissions.
Conclusion
In conclusion, accurate measurement of emissions is a crucial first step in helping your company become more emissions resilient. This measurement enables you to understand your emissions profile and gain a better understanding of your impact on the environment. By using technologies such as AireCore from Spectaire, companies can monitor and accurately measure GHG emissions, and develop tactics to lower them. This will also help the company to minimize regulatory and reputational risks, and improve their public perception as a sustainable business. Therefore, implementing accurate emissions measurement can be an excellent way to improve a company's overall environmental performance and become a more resilient organization.
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