you a simple business choice: prepare now or pay later.
It’s difficult to forecast and prepare for every scenario or crisis that may occur in the future but, as a business owner, it’s your responsibility to consider the risks you face, use lessons drawn from the past, to make informed decisions to guide and empower actions for the future.
Black swan* events, like the ongoing COVID-19 pandemic, have driven this point home highlighting the shortcomings of business resilience in the face of a rapidly changing landscape of risks.
The importance of business resilience was understood even before this pandemic took hold, as the climate emergency movement increasingly gained traction during 2019. Many companies have begun to feel the effects of the climate crisis, such as hurricanes, flooding and other extreme weather events which are happening more frequently and with greater severity.
Additionally, new regulations and policies in response to climate change may impact the operations of many, while customers, supply chain partners, and investors increasingly seek out companies that can thrive in the evolving environment.
Now, more than ever, we must adapt, prepare and build resilience for our businesses, as well as for planetary and humanitarian benefits.
To secure long-term business sustainability and success, it’s essential to protect the bottom line, differentiate from competitors, collaborate were possible, and ensure that business can continue to operate during disruptions.
Understanding business risks and vulnerabilities coupled with business acumen will also allow informed development of new opportunities, goods and services.
Here at Climate Action North we are busy developing our Business Action Toolkit, which is designed to help you become more resilient to interruptions that businesses face every day.
This includes identifying areas of business risk such as market forces, theft, skills shortage, severe weather events and future climate change by offering practical ways to begin to assess climate resilience and plan to adapt and prepare.
We plan to roll out our Toolkit later in the year and participating businesses will receive a bespoke report outlining the actions they should address, which is colour-coded for risk and prioritisation purposes.
If you would like to be among the first to trial the Business Action Toolkit to prioritise resilience and build a better future, please register your interest by emailing firstname.lastname@example.org
*Rarity, extreme impact, and retrospective predictability. These are the three characteristics of a black swan event, according to Nassim Nicholas Taleb, the theorist who coined the term.