How can we build more resilient industries? Adaptation will become an increasingly important aspect of risk management for the shipping, oil and gas, and power sectors, as the lifetimes of new vessels, drilling platforms and power plants stretch into future periods of more severe climate change.
Shipping and coastal port facilities are especially vulnerable to changing weather conditions. Climate change is likely to increase hazards. Although uncertainties remain about the amount of increase, it is time to start planning for adaptation.
The sea has been the largest carrier of freight throughout recorded history. As global international trade has increased, so has the demand for sea transport of people and goods. Climate change may create serious risks for ports and ships, reduce the efficiency of transport and necessitate rebuilding of infrastructure.
Oil & Gas
The petrochemical industry is vulnerable to many aspects of climate change, including storms, waves and melting ice. Adaptation will include new design criteria, emergency planning, and rerouting and reciting of infrastructure.
Climate change poses risks to electrical power generation and distribution, as warming gradually cuts efficiency and extreme weather threatens to damage grids. There will be a need to harden infrastructure and increase capacity.
The city is becoming the most significant form of human community. To reduce vulnerability and build resilience in these highly complex systems, collaboration will be essential.