We’ve heard over and over again about how companies are not adequately preparing for the changing climate, but rarely do we see reports praising companies for being proactive in the face of increasingly severe weather events and rising temperatures.

But that did happen recently with the issuance of a step-by-step tool for businesses to prepare for such risks. For the first time, leading companies from the food and beverage, insurance, investment, technology and energy industries are taking action with certain tools, one being Business ADAPT. The guide cites several recent weather events that have caused economic and social harm, including the 2010 heat wave in Russia, which triggered severe wildfires and shaved off 1% of the country’s GDP, and the 2011 Texas drought, which caused a loss of .

6 billion within the agricultural sector.

The tool is part of the Value Chain Climate Resilience Guide and states that companies should follow the below points:

• Analyze the issues — Have you started thinking about the resilience of your business in the face of climate-related impacts?
• Develop an internal strategy — Have you mobilized the right team to address climate resilience?
• Assess risks and opportunities — Have you taken steps to assess the areas where opportunities to build climate resilience or invest in emerging market opportunities exist in your business value chain?
• Prioritize actions — Have you taken steps to identify and assess measures to build climate resilience in your value chain?
• Tackle actions, and evaluate progress — How will you successfully implement actions to build climate resilience in your value chain, and evaluate and monitor the effect of your actions over time?

Companies who fail to take preventative steps to address climate threats could find themselves facing extreme and unmanageable risks. As James E. Rogers, CEO of Duke Energy put it, “If we’re not ready, we’re in trouble.”