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from Part II - Conceptual Framework
Published online by Cambridge University Press: 28 April 2022
In Chapter 2, we build on resilience theory to provide a framework of analysis to understand how the intensity of nature adversity generated by climate change affects and limits business adaptation. Adaptation responses can span a broad range of strategies beginning with unawareness to deliberately ignoring nature adversity conditions. Next, protective adaptation –seeking to preserve the status quo of core business features- including substitution of nature’s resources and services, buffering from negative conditions, government lobbying, and engaging in alliances or mergers and acquisitions. And then, at the highest levels of nature adversity: adopting diversification strategies (e.g., in terms of products/services, industry participation, and geographic location) or even abandoning businesses altogether.
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