Adapting to a Changing Climate: Building Resilience in the Mining and Metals Industry

Challenge the practice is addressing: This guideline outlines a step-by-step method for constructing climate resilience, suggests ways that businesses may include climate concerns into current risk management procedures, and offers an overview of how a changing climate can affect the mining and metals sector.

Concrete practice to achieve the expected goal: Building operational resilience to physical climate change in the mining and metals industry depends on a company's capacity to adjust to change, foresee what may come next, and absorb weather- and climate-related shocks when they occur. The step-by-step method includes 6 steps: 1. Defining the scope, 2. Understanding the current situation, 3. Exploring future climate scenarios, 4. Assessing climate risks and opportunities, 5. Identifying risk management/adaptation options, 6. Evaluating risk management/adaptation options, 7. Developing adaptation pathways.

Expected impact/goal of the practice: The best course of action for businesses is to include climate change drivers into their risk management and planning processes and to locate the "hooks" for climate risk and resilience throughout all of their current operations and the asset life cycle.

Who is the target user group of the practice/intervention or implementing the practice/intervention? This practice is relevant for copmanies in the extractive industry