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Risk Management
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Risk Management
Risk management involves taking a proactive approach to identifying possible risks and weighing up the costs and benefits of different actions. Many businesses don’t recover from a weather-related event, planning to prevent, prepare, respond and recover is vital.
In adopting a risk management approach, business should consider:
WHAT:
- What are the implications of climate change for my business and my destination?
- What are the key things I rely on to operate my business?
WHO:
- Who are my most important customers & suppliers?
- How will I let them know about a change in my business?
- Who can assist me to respond and recover?
HOW:
- How can I operate in the absence of key resources, people and facilities?
- How can I continue to operate long term?
- How will my customers react to climate change or other weather-related events?
“Sustainability is first and foremost about managing risk and identifying and creating value.”
Noel Purcell, Westpac Banking Corporation
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