Hi, and Welcome!
Our discussion forums exist to make it easier for you to get clarity about next steps. Sustainability professionals have access to the questions and can provide short responses. If the responses are more technical and require further support, you’re welcome to continue the discussions with them outside of the forum or engage with them more directly.
Kuthumi Forum
I have been asked to complete some climate change scenario analysis, are there any tips for where to start?
Sure. The process of scenario analysis is broken down into four main steps:
- Planning
- Execution
- Analysis
- Integration
Is resilience mandatory?
Having a strategy that captures climate resilience is now part of the Climate Disclosures reporting expectation. Though the reporting regulations are not prescriptive for how to do a resilience assessment. The important thing is that businesses should already be considering their own resilience to different externalities and climate change just becomes another externality to consider and prioritise.
Where should I start with prioritising my resilience initiatives?
Spending time and limited money on resilience can be hard. It’s helpful to use your materiality thresholds (Financial/Operational/Sustainability) to help identify where the bigger areas of vulnerability are. When doing the assessment, it’s also important to look through the entire value chain and business model (e.g., don’t just focus on business operations, also consider any gaps in supply chain weakness, stakeholder resilience, and even customer resilience to potential price increases for your key products). You don’t need to focus on everything, just use the relevant views of materiality to put in frame what matters most to the business and use that framework to help guide your prioritisation activities.
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