Adaptation and Resilience to Climate Change and Weather Extremes
Chapter 8: The path forward: new frameworks for business strategy and innovation
Humanity has already emitted and continues to emit a large amount of carbon into the atmosphere. The growing levels of GHG emissions already make a complete avoidance of the adverse impacts of climate change unachievable. Even the strongest attempts at stabilizing GHG concentrations would not be able to prevent all residual loss and damage, and especially vulnerable locations, communities and sectors will still feel some of the effects of climate change. Climate change, therefore, calls for new approaches that take into account not only the need to mitigate GHG emissions, but also the need to adapt and the need to build resilience (Denton et al., 2014). The role of businesses in responding to climate change is clear. While businesses have been central to the creation of the wealth and the technologies that have transformed society (Michaelis, 2003), organizational development and economic growth have been major drivers behind the intensification of natural resource use and consumption that has risen to unsustainable levels. Following assessments in earlier chapters regarding how organizational decision-makers can assess climate change impacts, vulnerabilities and the prospects for adaptation and creating resilience, this concluding chapter summarizes avenues for approaching climate change through a combination of different strategic responses. In terms of ‘what to do’ to respond to climate change (now and in the future), this chapter identifies and discusses the formation of climate-resilient pathways (Denton et al., 2014).
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