Adaptive capacity: A tool for economic transition planning
Understanding Adaptive Capacity is a discussion paper from the Centre for Policy Development’s sustainable economy program, by Mara Hammerle and Toby Phillips.
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.