After recent summer and winter temperature extremes disrupt operations, a national oil company evaluates its 10-year business plan. The risk department reviews how corporate assets, both physical and human, are resilient to climate change. Early in the planning process, a risk team member emphasizes the importance of planning for both acute and chronic climate hazards.
How should the team member describe acute and chronic hazards in terms of the 10-year strategy?
In terms of a 10-year strategy, acute hazards refer to sudden, extreme events like hurricanes, which can cause immediate and severe impacts on operations. Chronic hazards involve gradual changes over time, such as sea level rise. Option C correctly distinguishes between these two types of hazards: models for hurricane damage (acute) are generally more reliable and agreed upon than those for sea level rise (chronic), appropriately emphasizing the consideration of both short-term and long-term impacts in the company's strategy. Therefore, Option C provides the most accurate description relevant to the question.
Acute hazards refer to short-term, sudden, and often extreme events, such as hurricanes, which can directly impact operations in the short term. Chronic hazards, on the other hand, are longer-term and gradual changes, such as sea level rise, which may pose a continuous threat to offshore drilling operations over time. Option C correctly highlights the difference in the reliability of models for these two types of hazards, emphasizing that hurricane damage models are more agreed upon or reliable than models for sea level rise. This highlights the importance of considering both acute and chronic hazards in the company's 10-year strategy for resilience to climate change.
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acute hazards are event driven e.g floods while chronic hazards are longer term shifts in climate patterns e.g change in precipitation patterns. A 10 year plan would therefore look at the short term and long term impacts. answer is D