Adaptive capacity: A tool for economic transition planning
It follows previous reports on climate transition risks and challenges for local economies, and forms part of a larger future report examining climate transition responses in regional economies in Australia.
The paper describes seven dimensions of economic resilience and proposes metrics to gauge each of these. Dimensions include
- Economic diversity
- Geographic connectedness
- Financial capital
- Workforce skills
- Social capital
- Access to public services
It also provides a guide for applying the framework to decision-making processes in transition planning, and possibilities for its extension.