Climate Change Risk Management

Global climate change has had quite marked impacts on our environment

We know that this impact has in turn affected natural environments. glaciers have started shrinking, ice on various lakes and rivers is melting earlier, tree and plant species are shifting and flowers are flowering earlier too. Most people are concerned about the impact of companies on climate change. Companies have been responsible for at least 60% of the changes in Earth’s climate over the last half century.

Some of the major global warming impacts include rising sea levels, melting glaciers and increasing frequency and intensity of heat waves. Sea level rise may increase coastal flooding risks in many regions. Extreme weather events will continue to be a challenge for humanity. Although climate change impacts are many, the most visible are associated with global warming and climate change.

How can businesses be prepared for these potentially negative impacts?

Business should first consider the impacts of climate change and what it will mean for its customers, employees, infrastructure and assets. There are three main types of climate change impact: adverse effects, vulnerability and adaptation. Adverse effects include floods, drought, heat waves, storms, cyclones, hurricanes and tornadoes. On the other hand, vulnerabilities include things like lack of access to energy, food supplies, transportation and communication.

On a national level, the expected changes in our environment due to global climate change will impact us in two ways: first by increasing the frequency and severity of extreme weather events and second by changing the probability of abrupt climate change. The frequency of extreme weather events will increase because of a melt in some areas of the Arctic Ocean, a rise in global temperature and increased moisture content. This will increase precipitation amounts in some areas and intensify drought. Additionally, the risk of abrupt climate change will increase because of the poles’ shrinking ice cap. Rapid melting of the ice cap could release large amounts of methane that will add to the greenhouse gas emissions already trapped in the Arctic atmosphere.

One way of mitigating against these risks is by making preparations for the mitigation of greenhouse gases

A business can take a number of steps to mitigate climate change impacts, one of which is to become informed about the risks associated with the change in our environment and begin making plans for the mitigation of these risks. Businesses should also prepare for the risks that may arise as a result of their own emissions. An effective climate change communication strategy must be in place, which include the dissemination of information about the projected changes in the climate, the risks associated with such changes, and possible solutions. An effective communication strategy will inform the public as well as internal parties such as managers and stakeholders about the magnitude of the climate change and the steps that need to be taken to mitigate or adapt to such climate change.

Another important step in climate change adaptation is reducing greenhouse gas emissions. A carbon-based alternative fuel source is required for the transportation industry, agriculture, and other industries. Cutting down trees and changing agricultural practices will have a direct impact on the earth’s climate and temperature. Reducing the use of vehicles and other forms of transportation will help reduce emissions. In terms of agriculture, increasing the efficiency of crop production will reduce greenhouse gas emissions because less fuel will be required to produce the same amount of food. A carbon-based alternative fuel source is essential for meeting the emissions reduction targets agreed to at the Paris climate change conference.

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