Climate Risk Assessment for Small and Medium Enterprises: Strategies, Challenges, and Adaptation

Nor Hafizah Abdul Rahman () and Noradiva Hamzah ()
Additional contact information
Nor Hafizah Abdul Rahman: Faculty of Accountancy, Universiti Teknologi MARA
Noradiva Hamzah: Centre for Governance Resilience and Accountability Studies (GRACE), Faculty of Economics and Management, Universiti Kebangsaan Malaysia

A chapter in Corporate Governance and Sustainability, 2024, pp 225-234 from Springer

Abstract: Abstract Small and medium enterprises (SMEs) play a crucial role in the economy but face many small but significant internal and external risks. Climate change poses severe risks for businesses, including SMEs, which require practical risk assessment and adaptation strategies to ensure sustainability and resilience in the face of climate-related challenges. When conducting climate risk assessments for SMEs, it is crucial to implement strategies that address the unique challenges they face. Adaptation strategies tailored to SMEs’ needs and resources are essential to building resilience. Challenges may include limited financial resources, lack of expertise or access to data, and difficulties in implementing complex risk management measures. Effective adaptation may involve enhancing business continuity planning, investing in sustainable practices, and collaborating with other businesses or stakeholders to share knowledge and resources to create a sustainable future for SMEs amidst climate change challenges.

Keywords: Climate change; Climate risk assessment; Sustainability; Small and medium enterprises (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-7808-9_12

Ordering information: This item can be ordered from
http://www.springer.com/9789819778089

DOI: 10.1007/978-981-97-7808-9_12

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().