SUSTAINABILITY
Chain Risk Management with risk management specialists Exiger , who says ground-zero in handling climate change is to “ educate your entire organisation ”.
Adapting to climate change is no small thing Chi says that adapting to climate change is a dramatic evolution from the usual adaptive changes businesses have to make , which are smaller in scope , scale , and impact .
“ We ’ re talking about transformational change ,” he says . “ And this is a significant departure from the status quo .”
Chi advises that , as an initial step , organisations culturally prepare their employees about the importance of climate change impacting their supply chains .
“ Every employee – from CEOs setting the tone at the top to individual managers individually assisting their teams – must recognise and understand the importance of climate change and that the need to adapt is critical ,” he says .
Businesses need climate-focused priorities ' Chi also advises that businesses set clear , climate-focused priorities . “ The best way to eat an elephant is one bite at a time ,” he says , pointing to the fact that dozens of organisations who are recognised as standard bearers on climate regularly publish complex sets of climate-specific guidelines .
“ To assess climate change risk , have a clear set of priorities ,” he says . “ Is your organisation looking to reduce its carbon footprint ? Are you more concerned with potential supplier outages in high-risk regions , such as the South China Sea ? Is your just-in-time inventory management for critical components at risk of disruption ?” Chi adds that performance on key priorities must also be measurable . Here , he points to
90 February 2023