What are businesses doing to prepare for climate change?

Climate change has brought millions of dollars of damages to businesses over the past years, yet little is known about how businesses are preparing and planning for the physical impacts of climate change going forward.

Four Twenty Seven, in partnership with the University of Notre Dame Global Adaptation Index (ND-GAIN) and with support from Business for Social Responsibility (BSR), have launched the first annual State of Corporate Adaptation survey. The survey will provide a timely analysis of how businesses are addressing the need to adapt complex business operations to a changing climate.

Survey

  • How are global corporations preparing for climate change impacts?
  • What are the most pressing climate risks for your sector?
  • How are your competitors planning for extreme weather events?
  • What climate impacts should you be monitoring and why?

These are some of the questions at the heart of our research – this year’s answers and analysis will provide valuable insight for companies struggling to prioritize sustainability activities and will create a solid foundation to advance best practices in corporate adaptation.

While the public, nonprofit and philanthropic sectors have made great strides on issues associated with adaptation planning and implementation in recent years, the status of resilience building in the private sector is unclear at best. The CDP has successfully motivated some companies to prioritize transparency in sustainability reporting, however, as our climate continues to change, it becomes more and more imperative that we have a collective understanding of current corporate adaptation activities and the barriers that are inhibiting real progress.

Understanding how the private sector is preparing for the impacts of climate change is crucial to socio-economic resilience at large.
Climate adaptation will require public-private sector collaboration.

As our understanding of global climate risks continues to grow, companies are struggling to efficiently prepare for climate induced shocks and stressors that threaten global economic stability. In recent years, the CDP supply-chain analysis has shown that more than 70 percent of corporate respondents anticipate that climate impacts will disrupt their supply chains.

Our goal is to further our collective understanding of the challenges corporations face when addressing climate risk as well as to highlight best practices and potential strategies that advance resilience building across sectors and communities.

We know that the potential costs of corporate inaction are great. Missed opportunities to reduce recovery costs, increase resilience and leverage public sector adaptation efforts are not only unfortunate, but could greatly diminish the private sector’s ability respond to climate threats in a way that keeps our economy thriving.

The first annual State of Corporate Adaptation survey will create a critical baseline of knowledge for all stakeholders and will highlight the issues that are most critical to corporations striving to stay competitive in a changing climate.

The completely anonymous survey results will be summarized to reveal important insights and will be released in a public report along with practical guidance and ideas for next steps in corporate adaptation at the National Adaptation Forum on May 11th, 2015.

Help support our collective understanding of business climate resilience, take the survey now.

About the partnership:

ND-GAIN is a university research center dedicated to enhancing the world’s understanding of the importance of adaptation and facilitating private and public investments in vulnerable communities, Four Twenty Seven is a climate risk analytics and adaptation firm, and BSR is global nonprofit business network dedicated to sustainability. We work with companies and organizations around the globe to address climate risk and build resilience and conduct research to advance these efforts.

For more information on the survey or to provide additional feedback please contact Aleka Seville.