CONCEPTUAL FRAMEWORK OF CLIMATE RISK ASSESSMENT FOR INDUSTRIESHrishikesh Mahadev Rayadurgam and Prakash Rao
Managing risk is a key component of industries to cope with extreme weather events (EWEs). In this research, we develop a comprehensive conceptual framework of climate risk assessment for industries / businesses. The conceptual framework covers different aspects of industries that may influence the risk towards EWEs. The framework covers ownership aspect, size of industry, location and sector. Further, it details various components of industry that determine the risk component like physical assets, processes, supply chain, logistics, employees, communities, markets, finance, support from the government, adaptation, adaptation barriers and drivers. This study will enable the researcher to use the entire framework or a part of it for assessing climate risk for industries.