Global trade and transport depend on the resilience of the ports sector. Multi-hazard operational risks are estimated for 2,013 ports under historical climate and future warming; of the marine and atmospheric hazards considered, coastal flooding, wave overtopping and heat stress increase risk most.
Companies have a key role to play in building societal resilience to crises, including the current pandemic and climate impacts, across their value chains. Some priority actions businesses can take to build resilience include conducting supply chain risk assessments; understanding future scenarios; and understanding how the people in business and vital communities are affected.
“Climate-related risks and opportunities are undeniably intertwined with those associated with water. Any assessments of future water-related events should therefore consider the climate, but this is only one piece of the puzzle. Other socio-economic drivers impact the supply and demand of water, such as regulatory, market and demographic changes. The new WWF Water Risk Filter tool supports the integration of water into TCFD-aligned scenario analysis and will strengthen the disclosure and assessment of companies’ resilience to future scenarios,” said Francesca Recanati, Environmental Specialist (Technical Manager), Climate Disclosure Standards Board (CDSB).
Much of the global economy depends on natural capital—the world’s stock of natural assets. Acting as the planet’s balance sheet, natural capital provides critical services and resilience. It supports water cycles and soil formation while protecting our communities from major storms, floods, fires, and desertification. By absorbing CO2, it limits the pace of climate change. Biodiversity, a core component of natural capital, supports activities as wide-ranging as pharmaceutical innovation, ecotourism, and crop pollination. These are just a few of the numerous “co-benefits” that make nature so valuable. Yet the complexity of natural capital makes its benefits hard to quantify, leading many to overlook nature as an investment opportunity. In this report, we describe and apply a methodology that can help quantify some of the costs and benefits of conserving natural capital.
The importance of protecting forests – particularly old growth and tropical forests which act as carbon sinks- as a climate mitigation measure can hardly be overstated. Pricing the risks associated with not adequately protecting forests would underscore their value and is core to the scenarios development work Riskthinking.ai does.