The study on “Building Climate Resilience for Indian Industry” has developed a Physical Climate Risk Assessment Framework (PCRAF) to assess and quantify climate risks for Indian businesses and their value chains. The PCRAF is designed to help enterprises identify risks from floods, droughts, heatwaves, cyclones, and other phenomena caused by climate change and guide them in prioritizing appropriate adaption actions across sectors and in different regions. Although primarily focused on industry, the framework can also form the foundation for a national strategy to assess and manage climate risks.
The Summary Report highlights the role of industry in bringing in private capital, conducting in-depth site-specific studies that allow for clarity in investments, and building resilient infrastructure. Initiatives such as this framework (PCRAF) provide the necessary tools for Indian industry to play its part and should be further encouraged for uptake through appropriate incentives.