The phrase "approaching this situation" is correct and usable in written English.
It can be used when discussing how to deal with or consider a particular issue or circumstance.
Example: "When approaching this situation, it is important to remain calm and collected to find the best solution."
Alternatives: "dealing with this situation" or "tackling this situation".
In the meantime I want to let you know how I am approaching this situation.
A publicist released a statement in which Merriman was quoted as saying: "I am approaching this situation as an opportunity to grow as a player and to bring my leadership and talents to a new organization".
According to the United Nations, some 1.2 billion people around the world, which equals more than one-sixth of the world's population, live in the areas of physical water scarcity; almost 500 million people are approaching this situation (UN Water 2007).
One had to approach this situation with enthusiasm: Mr. Payton is a highly gifted musician, capable of surprises and rarely seen outside the context of his quintet.
It occurs to me, that the way that economists and analysts approached this situation was to examine the euro as a network of exchanges between countries and investors, and to look at the changes that would occur in different situations, for example if Greece were to default on the euro.
Although the modern observer is likely to approach this situation with his view colored by images of the endless, enervating litigation described in Dickens' Bleak House (published in 1853), this stability in case processing apparently was not achieved by allowing a case backlog to accumulate.
Airbnb didn't approach this situation by resolving to make people more trusting, but instead, by making guests more familiar to their hosts, and vice versa.
One way Steelcase approached this situation was by moving one company's CEO's office into the path between the building's main entrance and the café that employees regularly stop in.
