Adapt
Create an adaptation plan and identify and prioritize adaptation pathways
Once the organizational goal is set, the next step is to create a dedicated adaptation plan that outlines activities and responsibilities to move forward work on adaptation within the business. One important element of such a plan is to identify and prioritize adaptation pathways based on the risk and opportunity analysis. Adaptation pathways are a strategic approach used by businesses to navigate uncertain climate impacts by planning and implementing a sequence of decision points over time. These decision points are triggered by changes in the environment or other relevant factors, rather than being based on a fixed timeline. This approach allows businesses to tailor their decisions and actions appropriately, reducing urgency and uncertainty, and enabling flexibility to adapt to both environmental and social changes.
The key advantages of the adaptation pathways approach include:
Tailoring decisions and actions to specific future events.
Reducing uncertainty by basing decisions on events rather than time.
Reflecting changes in local circumstances.
Keeping options open until more support is available.
Enabling learning along the adaptation journey.
The diagram below illustrates an example of applying adaptation pathways to determine flood defense requirements for a manufacturing facility over different time horizons.
By prioritizing these pathways, businesses can focus their resources on the most critical and beneficial actions. This strategic approach allows for a phased implementation of adaptation measures, ensuring that the most urgent and impactful actions are addressed first. Additionally, this prioritization helps in aligning adaptation efforts with regulatory requirements and industry benchmarks.