It turns out all the great plans to stop climate change, limit global temperatures, and save the planet didn’t really pan out. Climate change is here, and it’s only getting worse. Now I know that’s an uplifting way to start a blog, but it’s the reality of living with 40 years of poor decision-making at the highest levels. We’re here now. So the question is, what are we going to do about it?
Mitigating the worst of climate change’s impacts by limiting global temperature rise to 1.5°C is no longer a viable option. The only path to 1.5°C is decisive and immediate action, and all signs suggest that isn’t going to happen. So we must plan to live in a more dangerous and unpredictable world. That concept is central to the EU’s new plan for climate resilience. The European Commission announced its intent to step up climate resilience in a recent communication, changing its approach to policymaking to align with the unfortunate reality. Here are some of the key pillars of that change:
- “Reference global warming trajectory. Current evidence shows that the world is on a plausible path to warm above pre-industrial levels by 1.5°C by 2030, 2°C by 2050, and 3°C by 2100. When making decisions about policies, assets and investments, the reference global warming trajectory should be the baseline assumption, with more detailed risk assessments and tolerance determining their choices…
- Encouragement to take into account the reference global warming trajectory, national climate risk assessments referred to in Article 5(2), and other relevant risk assessments when exercising public functions, in particular budgeting, spatial planning and impact assessments…
- A single strategic plan for climate resilience by Member States. The four planning instruments required today are replaced by a single national strategic plan on climate resilience… There would also be a Union-level strategic plan for climate resilience, which would be a more action oriented successor of the existing EU Adaptation Strategy.”
These broad policy objectives will impact companies operating in the EU. The EU is now considering an over 1.5°C as the most likely reality. This means that things like permitting will become more difficult, and access to natural resources like water will be more limited. In addition to preparing for more restrictive compliance burdens, companies would be wise to take a page from the EU. If your company does not have a plan for climate resilience, now is the time to make one. If your company’s plan is based on Paris Agreement-aligned projections, now is the time to update it.
Our members can learn more about climate change here.
