Plataforma sobre Adaptación al Cambio Climático en España

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Overview: Climate Change Adaptation in Industry

The success of private industry has long been sensitive to weather conditions. Accordingly, companies regularly adjust their business practices with change in the weather and the climate. Accelerating climate change increases the importance for industry to manage weather risks, and it adds to the difficulty of this process. Case studies presented in this book from the electricity, construction, insurance, and forestry industries identify current barriers and constraints to adaptation, and showcase potential adaptive actions for companies seeking to manage climate risks.Research on adaptation by industry to climate change is typically addressed within a decision-making framework where complex issues are mainstreamed into a comprehensive risk management system. The specific consideration of any one issue, like climate change, to an overall business decision may be impossible to measure, yet there is a framework for decision-making using well-established tools that can address all potential risks within the broad context that supports action.Four industry case studies identify a number of challenges evident for private decision-makers and other interested stakeholders seeking to support better decision-making by industry with respect to adaptation to climate change. There are significant differences in climate sensitivity between industries and between companies within an industry, so support mechanisms ideally must be customized for the specific circumstance of each business. Businesses need detailed local projections for many climate variables beyond temperature and precipitation. The importance of climate change for industry decision-making is highly dependent on the planning horizon and climate sensitivity evident in each industry. Also the relative absence of research into anticipatory and reactive adaptation by private industry provides a challenge for private and public decision-makers seeking to understand industry best practices